MonticelloLive

 U.S. Senator Blanche Lincoln (D-Ark.) today said the Senate-backed plan to stimulate the economy is a victory for America’s seniors and disabled veterans.     

“The Senate’s stimulus package makes the necessary improvements to the House bill to include our seniors and veterans—integral parts of our American family,” said Lincoln, a member of the Senate Finance Committee responsible for drafting the Senate proposal.  “We know our country needs an immediate financial boost that is targeted and temporary and which puts money back into the economy quickly.  Our seniors and veterans—as well as our working families—will spend their rebate checks on a variety of needs, pumping money back into the economy.  These Americans have spent their lives building this country and fighting for the freedoms we cherish, and they should not be left behind.  The Senate’s plan is good for these and all Americans and good for our economy.”  
 
Lincoln said the Senate’s plan, which passed today by a vote of 81-16, is an improvement over the deal brokered by the U.S. House of Representatives and the Administration.  The House-passed stimulus package requires an individual to meet a level of $3,000 taxable income to be eligible for a rebate.  Social security income is non-taxable and as such would not count toward this income threshold under the House plan.  The Senate’s plan corrects this inequity and allows social security income to qualify for the rebate.  Lincoln called it a much-needed improvement over the House package and said that at least 20 million seniors will now be eligible for rebates under the Senate’s plan.
 
The Senate’s plan also allows Veterans Administration disability income to qualify for the rebate, allowing 3.2 million veterans to count their disability income toward the rebate requirement.  Like social security income, VA disability income is also non-taxable and would not qualify under the House’s plan.  During the drafting of the Senate proposal, Lincoln successfully lobbied the Finance Committee to correct this inequity and allow disability income to qualify for the rebate.  As a result, at least 250,000 veterans who have no other income aside from their disability income will be eligible for a rebate.