SENIORS Act of 2015

The SENIORS Act of 2015 was designed to provide a one-time financial boost to retirees, veterans, and individuals with disabilities during a year when there was no standard cost-of-living adjustment (COLA) for Social Security. If enacted, the bill would have issued a one-time payment to eligible beneficiaries equal to 12% of their November 2015 benefit amount.

To cover the costs of these payments, the bill proposed tightening eligibility for the refundable Child Tax Credit by requiring a Social Security number and reclaiming unused funds from several government programs, including the Making Home Affordable Program and the Advanced Technology Vehicles Manufacturing Loan Program. Ultimately, the bill did not move past the committee stage and did not become law, meaning the proposed payments were never issued.