News

  • New Year New Congress

    What would you say are the three most important decisions to maximize Social Security? .Social Security Cost-of-Living Adjustment – Ensuring for a fair, accurate, and guaranteed COLA. .Of course, members of the subcommittee also spoke, including the opening remarks of the subcommittee chairman John Larson (D- Conn.). Here are a few of his comments: … Continued

  • Legislative Update For Week Ending August 3 2012

    While inflation varies significantly depending on the area of the country in which people live, locality - based payment rates are not calculated on living costs or specific price levels like the COLA. According to a story appearing on the Federal News Network's website, this is a common misconception about locality pay. In fact, consumer inflation is not even a factor when setting locality pay. .The authors of the study concluded that unless the overall trend stabilizes or is reversed, or high cost-to-claim drugs are addressed, this trend will place an increasing burden on the neurologic Medicare budget. .The "grandparent scam" has been around for a while, where a scammer poses as a relative, often a grandchild, in a desperate situation in urgent need of money. Due to the economic crisis created by the pandemic, the Federal Communications Commission has worked to raise the awareness of the grandparent scam. … Continued

Did you wind up owing federal income tax last year or this tax season due to the effects of the Making Work Pay Tax Credit? TSCL is concerned that senior taxpayers were disproportionately affected by implementation problems of the Making Work Pay Tax Credit, and is conducting an online to survey to learn how they were affected. .So far, many accomplishments have made the first session of the 113th Congress a memorable one for TSCL. To read more about our latest efforts, check out our Legislative Updates. .How have you been affected by high Medicare Part B premium increases? To participate in a survey, visit The Senior Citizens League's website at . .According to an analysis by Johnson, the impact of switching to the more slowly - growing "chained" CPI would compound over time, with the deepest cuts accruing after people had spent 25 or 30 years in retirement. After 25 years, benefits would be cut by about 4.6 percent, and by 5.5 percent after 30 years. For someone with average benefits of ,245 in 2017, benefits would be 0 per month lower from using the chained CPI after 25 years, and 6 per month lower after 30 years, the analysis found. .Most Americans contribute 6.2 percent of every paycheck to Social Security, but due to the payroll tax cap, people earning more than 8,400 contribute nothing over that amount. Eliminating the payroll tax cap would extend the solvency of the program responsibly, without cutting benefits for seniors. Do you agree? .Some in Congress are hopeful that the conferees will negotiate a "grand bargain," which would include an overhaul of the tax code and entitlement reform. However, leaders in both chambers have been pushing for the conferees to focus more narrowly on replacing the "sequester" and establishing a fiscal 2014 budget blueprint. Should the conferees fail to reach a consensus, the government could face another shutdown on January 15th, a default on February 7th, and about billion in across-the-board spending cuts at the beginning of the year. .That was the second ruling in a week to delay the policy. A federal judge in Maryland had ordered on Dec. 23 that the rule, which was slated to take effect Jan. 1, be paused for two weeks. .The Chairman of the House Armed Services Committee, Adam Smith (D-Wash.) has announced that if the bill is vetoed the House will come back into session over the holidays and vote to override. ."The proposal would apply to both Medicare Part B and Part D drugs, an expansion from an earlier version of the order. The order would apply to Part D drugs where ‘insufficient competition exists.'"