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Officials and advocates urge single reporting portal and tax relief as scams devastate seniors' savings
Summary
AARP and witnesses at the Joint Economic Committee hearing described how seniors and other victims face confusion about reporting, limited recovery options, and harmful tax treatment; they urged a centralized reporting portal, expanded victim restoration tools, and tax relief for stolen funds.
Lawmakers and consumer advocates at a Joint Economic Committee hearing highlighted the severe, sometimes life‑altering impacts that scams have on older Americans and described practical steps Congress could take to help victims.
Multiple members told personal stories: a constituent’s widowed mother who lost life savings to a romance and impersonation scam; other cases where victims who later reported the…
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