The U.S. Senate Finance Committee passed the Senate’s much-anticipated economic stimulus package this week with provisions that will increase the cap amounts on who is eligible for rebates and with benefits that include seniors with little earned income and disabled veterans who are not required to file tax returns.

“They fought for their country. They gave a lifetime of labor. They gave a lifetime of service. They paid a lifetime of taxes. And they contribute to the economy today,” Sen. Max Baucus (D-Mont) said. “But 20 million of these seniors would not get a check in the House-passed stimulus bill.”
In contrast, Baucus says under the new Finance Committee’s stimulus package, most seniors will qualify for a $500 rebate as long as they can show they received at least $3,000 in social security benefits last year. The same would hold true for veterans who received at least $3,000 in non-taxable disability compensation. And the Senate Finance Committee’s package also increases potential benefits for single and married taxpayers by placing the upper limit cap on those who can receive rebates at $150,000 for single filers and $300,000 for dual income families.
The Senate Finance plan also includes safeguards to insure illegal immigrants do not obtain rebates. The updated plan passed the Senate Finance Committee with a 14-to-seven vote. It is now heading to the Senate.
Click here to read the Senate Finance Committee’s full economic stimulus plan.