Friday, January 25, 2008

A Champion in the Senate

Senator John Kerry (DMA) has sent a letter to his fellow Senate Finance Committee members urging they include seniors living on fixed incomes in the economic stimulus package negotiated in the House. Kerry says:

“As you develop the legislative language of the economic stimulus package, I urge you to structure the rebate so that we do not unfairly penalize millions of seniors who are faced with the same economic strains as young families, but do not have the ability to increase their incomes.” Senator John Kerry (D-MA)
Seniors owe Senator Kerry a debt of thanks for his willingness to try and reverse a Washington legacy of ignoring millions of American seniors when crafting economic recovery plans.

So, now the race to passage begins. The Senate has begun work on its version of the stimulus package and the full House hopes to vote next week. Why the rush? Even if this package stays on the fast-track most don’t expect any of this stimulus to make it to Americans before June. All the more reason, we say...Why leave out seniors, when they could receive their stimulus sooner and, studies show, they will spend it faster?

“The people who need a stimulus check the most will spend it the fastest. Why, then, is the Administration abandoning millions of seniors in an economic stimulus package? Senior households currently spend 92% of their income each year. Many retirees live check to check and would immediately spend any rebate they receive. This should be the first step in any plan to pump billions of dollars into the economy as quickly as possible.” Barbara B. Kennelly, President/CEO The National Commitee to Preserve Social Security and Medicare and Member of the Social Security Advisory Board

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