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Bill Nelson and Marco Rubio team up to make taxes simpler for seniors

The two Florida senators today introduced a bill aimed at simplifying the tax code and filing requirements for seniors. The legislation would create a new 1040SR form to allow for easier filing for Social Security benefits, as well as dividends, capital gains and interest.  

The pair said the legislation has been endorsed by the American Association of Retired Persons, the 60 Plus Association, Americans for Tax Reform and the National Taxpayer Union.

Rubio plugged the bill today on The Bud Hedinger Show, noting, "I think we need tax simplification for everybody on multiple fronts, but I think starting with seniors is a way we can get a lot of consensus."

He said the bill creates a "more expedited and simple process, and they won’t need to hire an accountant. It will save them that money, and it will save them the time and hassle of our complicated tax code."

"Seniors are not alone when it comes to dreading doing their tax returns," Nelson said. "Almost everybody complains about the hours it takes and seemingly endless complex forms. So this legislation is a good step in the right direction.  Hopefully, we’ll be able to simplify the tax code next."