Though there are two versions of President Barack Obama’s economic stimulus package in Congress, only one is aiming to give senior citizens a little extra cash.
Senior citizens may be interested to know the Senate version of the president’s stimulus plan includes a provision that would pay them $300.
Under the $820 billion Senate measure, senior citizens receiving Social Security would be eligible to receive the bonus payment.
Yesterday the U.S. House of Representatives passed an $819 economic recovery plan, though there was no mention if it included a senior citizen payment.
Along with the $300 bonus to seniors, the Senate’s plan includes $87 billion of federal money to assist states struggling with their current budgets for the Medicaid health care program. The House’s version reportedly has slightly more going towards Medicaid with $127 billion.
However with either version, it appears seniors may benefit significantly if it is signed by the president. Obama has said he hopes to sign the economic stimulus package by the middle of next month. A Senate vote on the plan is expected in the near future.
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