Seniors And Veterans Emergency (SAVE) Benefits Act

Bill: 114-hr-4144
Sponsor: Rep. Duckworth, Tammy [D-IL-8]
Introduced: 2015-12-01 in the House
Policy area: Social Welfare
Subjects: Appropriations
Department of Veterans Affairs
Department of the Treasury
Disability assistance
Employee benefits and pensions
Executive agency funding and structure
Government employee pay, benefits, personnel management
Government trust funds
Income tax credits
Income tax deductions
Poverty and welfare assistance
Railroad Retirement Board
Railroads
Social Security Administration
Social security and elderly assistance
State and local government operations
Transportation employees
Veterans' pensions and compensation
Wages and earnings

Summary:
action_date: 2015-12-01
text: 

Seniors And Veterans Emergency (SAVE) Benefits Act 

 
This bill directs the Department of the Treasury to disburse a payment equal to 3.9% of the average amount of annual benefits to certain individuals (except prisoners, fugitive felons, or aliens) who are entitled to a specified benefit under title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act (SSA), an annuity under the Railroad Retirement Act of 1974, a veterans benefit, or are eligible for a cash benefit under SSA title XVI (Supplemental Security Income), including a special benefit for individuals who perform substantial gainful activity despite severe medical impairment.
 
A refundable income tax credit is allowed for the first taxable year beginning in 2015 in an amount equal to $581 for certain eligible government retirees who do not receive such a payment.
 
The Internal Revenue Code is amended, with respect to the $1 million limitation on the deductibility of employee compensation, to:
 
 
eliminate the exemption from that limitation for compensation payable on a commission basis or upon the attainment of a performance goal; 
extend the limitation to any individual who is a current or former officer, director, or employee of a publicly-held corporation; and 
apply the limitation to all publicly-held corporations required by the Securities and Exchange Commission to register securities and provide periodic reports to their investors. 
 


Legislative actions:
action_date: 2015-12-03
text: Referred to the Subcommittee on Disability Assistance and Memorial Affairs.
action_date: 2015-12-02
text: Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.
action_date: 2015-12-01
text: Referred to the Committee on Ways and Means, and in addition to the Committees on Transportation and Infrastructure, and Veterans' Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2015-12-01
text: Referred to the Committee on Ways and Means, and in addition to the Committees on Transportation and Infrastructure, and Veterans' Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2015-12-01
text: Referred to the Committee on Ways and Means, and in addition to the Committees on Transportation and Infrastructure, and Veterans' Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2015-12-01
text: Referred to the Committee on Ways and Means, and in addition to the Committees on Transportation and Infrastructure, and Veterans' Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2015-12-01
text: Introduced in House
action_date: 2015-12-01
text: Introduced in House