MO Senate Bill Will Eliminate Tax Credits For Seniors

The Missouri Senate is currently considering a bill that will end the Circuit Breaker Property Tax rebate for tens of thousands of seniors. Missouri Senate Bill 567 will eliminate the circuit breaker for 60,000 Missourians, and the credit will be reduced for an additional 55,000 seniors.

Senate leaders have revived an effort to repeal the “circuit breaker” credit for seniors who rent their homes, effectively pitting disabled recipients of the credit against low-income seniors who rely on the additional monthly income.

The bill also cuts eligibility limits for the  tax credit, as well as the amount of the credit for seniors who rent or own their homes. Renters currently qualify for the tax credit if their income is at $27,500 or below if single and $29,500 or below if married. The average credit in 2016 was just over $500. Advocates maintain that the tax credits, while they result in relatively small payouts for individuals, help make it possible for disabled and elderly Missourians to remain independent and at home.

The Missouri Association of Area Agencies on Aging wants seniors to know about these potential cuts so that they can let their senators know how they feel about cutting benefits for seniors. Want to make your voice heard? You can find your legislator at the following link:

http://www.senate.mo.gov/LegisLookup/Default.aspx

The following website shows how the bill has progressed so far: https://legiscan.com/MO/bill/SB567/2018

For a copy of the text of the bill, go here: http://www.ma4web.org/wp-content/uploads/2018/01/Missouri-2018-SB567-Comm_Sub.pdf

MA4 Opposes Senate Bill To Cut $42 Million From Key Senior Program – January 25, 2018 (News Release)

 

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