New Tax Break Worth $6,000 May Come Soon For Older Americans - South Florida Reporter

Oswego County TodayGillibrand, Colleagues Reintroduce Older Americans Act To Empower American Seniors

WASHINGTON, D.C. – Today, U.S. Senator Kirsten Gillibrand, ranking member of the Senate Aging Committee, joined nine of her colleagues to reintroduce the Older Americans Act (OAA) Reauthorization Act. This legislation renews funding for the OAA and strengthens services for American seniors. The OAA has provided vital nutrition, social, and health services to millions of…

New Tax Break Worth $6,000 May Come Soon For Older Americans - South Florida Reporter

Written by Andrea Coombes, CFP ©, Edited by Brian Beers – 3 Minute read If the massive tax package currently being debated in Congress becomes law, Americans who are 65 and older will enjoy a hefty new tax break: An additional $4,000 to $6,000 drop in taxable income, thanks to a new additional standard deduction. The House version of the tax bill calls for a $4,000 additional deduction, while the Senate version ramps that up to $6,000. The Hous…