Mark Dayton: “one of the groups consistently left out of most current economic stimulus proposals are America's senior citizens.…”

“one of the groups consistently left out of most current economic stimulus proposals are America's senior citizens. Prescription drug prices continue to escalate, putting enormous financial strains on seniors in Minnesota and throughout the Nation. That is why I am introducing today The Rx Relief for Seniors Act. It would give America's hard-pressed senior citizens a one-time, refundable tax credit of up to $500 per individual and up to $1,000 per married couple, to offset their payments for prescription drugs during the year 2001. Millions of senior citizens in my home state of Minnesota and throughout this country have had their limited personal incomes ravaged by the rising costs of prescription medicines. These escalating prices force the elderly to reduce their expenditures for other essential needs such as food, clothing, and utilities. They also prevent seniors from spending money on additional discretionary items such as recreation, travel, and other needed goods and services. The assurance of this $500 refundable tax credit, either as a credit on Federal taxes due next April 15, or as a cash refund from the Internal Revenue Service shortly thereafter, would permit budget-conscious senior citizens to increase immediately their purchases of additional consumer goods and services.”