SAVE Benefits Act

The Seniors And Veterans Emergency (SAVE) Benefits Act (H.R. 4012) was designed to provide a one-time emergency payment to approximately 70 million Americans, including Social Security recipients, veterans, and people with disabilities. This payment, estimated at roughly $581, was intended to act as a 3.9% cost-of-living adjustment during a year when standard federal benefits did not increase.

To fund these payments, the bill proposed closing tax loopholes related to executive compensation by preventing publicly traded corporations from claiming tax deductions on performance-based bonuses and commissions for employees earning over $1 million. While the bill was introduced in 2015 and referred to several subcommittees, it did not advance further in the legislative process and has not become law.