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H.R. 5172, The Immediate Financial Assistance for America's Seniors Act of 2008
- This item is from the 110th Congress (2007-2008) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.
Version saved on February 8, 2008, 18:36:40, by webmaster:
H.R. 5172 would amend the Internal Revenue Code of 1986 to provide recovery rebates to certain individuals receiving social security benefits.
Detailed Summary
Immediate Financial Assistance for America's Seniors Act of 2008 - Amends the Internal Revenue Code to allow social security recipients with earned income less than $3,000 a $300 refundable tax credit ($600 for married couples filing a joint tax return) in 2008. Reduces the amount of such credit by 5% of the amount by which the taxpayer's adjusted gross income exceeds $75,000.
Status of the Legislation
Latest Major Action: 1/29/2008: Referred to House committee. Status: Referred to the House Committee on Ways and Means.
Points in Favor
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Points Against
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Visitor Comments
bigmaccheese
February 3, 2008, 8:10pm (report abuse)As a senior citizen I pay the same for gas, electric and food as most wage earners do, so I can not see why we shouldn't be able to receive the rebate!