News

  • Legislative Update Social Security Threatened By Tax Holiday Extension

    The Senior Citizens League enthusiastically supports H.R. 1205, H.R. 6251, H.R. 4957, and H.R. 2212, and we were pleased to see support grow for them this week. For more information about these and other TSCL-backed bills, visit the Bill Tracking section of our website. .For this week, lawmakers in the House and Senate remained in their home states and districts for the final week before they return to Washington following the Labor Day holiday. .TSCL believes the current COLA is not sustainable for today's retirees and disabled beneficiaries, and is lobbying for legislation that would provide a minimum COLA of 3% in years in which inflation drops lower. What do you think? Visit TSCL's website at and take a poll. … Continued

  • Ask The Advisor May 2011 Advisor Feed

    Questions have swirled around the accuracy of many of the more than 100 tests available, often imported from around the world by little-known distributors, that were rushed onto the market as the outbreak exploded. U.S. regulators initially allowed them and required little evidence from manufacturers, then subsequently put some requirements in place as criticism of the approach mounted. .Second, one new cosponsor also signed on to the Social Security Administration Fairness Act (H.R. 6251), bringing the total up to thirty-five. The new cosponsor is Representative Ron Kind (WI-3). If adopted, H.R. 6251 would improve the administrative funding of the Social Security Administration, implement a moratorium on field office closures, and eliminate two waiting periods for Disability Insurance beneficiaries. .New Co-Sponsors Added … Continued

Increase the retirement age: Raise both the eligibility age both for full benefits, currently at 66 and set to rise to 67 and, for the first time, raise the earliest eligibility age which is currently 62. .Research that I've conducted over more than 20 years indicates that retirees would receive a higher COLA in most years using a "seniors" CPI, rather than by using the current method of indexing which is based on the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). One of the bigger problems with using the CPI-W is the fact that retirees spend their money very differently than younger working adults. Retirees must spend more on healthcare and housing, and less on gasoline and consumer electronics. .There are new federal rules that require hospitals to post their pricing information online in order to give patients the information they need to make decisions about their health care. But it turns out that some large hospital systems have been using codes that prevent that information from appearing in online search results. .The Tax Cuts and Jobs Act would eliminate many important tax deductions that older Americans rely on to reduce their taxable retirement income and preserve their savings. Those include deductions for medical expenses, which can be considerable for retirees. The bill also eliminates the deduction for state and local income taxes, casualty loss expenses, such as fire, wind damage and theft, and imposes new limits for the mortgage interest deduction. "The loss of these exemptions would leave older Americans paying taxes on more retirement income and higher tax bills," Johnson says. .Analysts are warning about potential drug shortages, but there is a system for checking whether there really is a shortage, using reported shortage tools on the U.S. Food and Drug Administration (FDA) website. You can look up current drug shortages at :https://www.accessdata.fda.gov/scripts/drugshortages/dsp_SearchResults.cfm .Coronavirus and the U.S. Drug Supply .For progress updates or for more information about these and other bills that would strengthen Social Security and Medicare programs, visit the Bill Tracking section of our website or follow TSCL on Twitter. .TSCL is very disappointed to hear President Trump continue to demand a payroll tax cut before he will agree to any new legislation dealing with the effects of the pandemic emergency. .If signed into law, the PRIME Act would increase fraud prevention efforts within Medicare and Medicaid. Among other things, it would enact stronger fraud penalties, curb mistaken payments, phase out the practice of "pay and chase," reduce the theft of physician identities, and improve the sharing of fraud data among agencies and programs.