News

  • Tax Reform Public Supports Boosts Social Security

    Last year, prescription drug prices grew by 12% nationwide. A rate that high hasn't occurred since 200What do you believe should be done to manage the growing cost increases of prescription drugs? .In April, more than 150 House lawmakers proposed a budget blueprint that would have reformed the Medicare program and cut Social Security benefits by adopting the "chained" CPI, eliminating the COLA for some seniors, and raising the eligibility age. Did you support this budget blueprint, and if so, why? .Pelosi is reported to be aiming for a House vote on the plan by the end of October or early November but Senate Majority Leader McConnell has already said the bill will go nowhere in the Senate. … Continued

  • Legislative Update For Week Ending August 2 2013

    There are three factors that affect your final benefit amount: .First, on the payroll tax, he delayed payroll tax collections for those making under 4,000. President Trump instructed the U.S. Treasury to halt collection of payroll taxes from Sept. 1 through Dec. 31 for workers who earn under less than ,000 every two weeks (that's people earning under about 4,000 a year). The President has the authority to do this because it is not actually a tax cut, but rather a tax deferral, which will, as we said, have to be repaid by workers at a later date. .This week, after months of discussions, leaders in the majority party revealed legislation to replace the Affordable Care Act. In addition, in a Wednesday meeting with President Donald Trump, two lawmakers proposed a plan to reduce prescription drug costs for Medicare beneficiaries. … Continued

To pay for the boost, advocates propose lifting the payroll taxable maximum so that higher earners pay Social Security taxes on their fair share. In 2017 workers pay Social Security taxes on the first 7,200 in income. But the highest earners, like highly paid CEOs, don't pay anything on earnings over that amount. .Generic drugs account for 84% of drugs sold nationally, but only 12% of spending. .TSCL Supports Bills to Prevent Premium Hike .That does raise a fair question about conflict of interest: If something was not in the best interest of seniors but would raise millions of dollars for AARP through insurance sales, would AARP put principle ahead of profit? .Passage of legislation in Congress is more complicated than most people realize. The Constitution allows each chamber of Congress to set its own rules for getting it done. .But last Monday the drug company executives announced they would not be going to the White House meeting. A spokesman for PhRMA, the giant lobbying group for many of the biggest drug manufacturers, said the White House talks were a distraction. .Negotiations on how to fund the Social Security payroll tax cut and the Medicare physician "doc fix" continued this week. House Ways and Means Committee Chairman Dave Camp (MI-4) and Senate Finance Committee Chairman Max Baucus (MT) led the 20 congressional conference committee members in talks aimed at producing a bill by the February 29th deadline. .An alternate measure of inflation, the Supplemental Poverty Measure, indicates that the number of older adults who are living in poverty is larger than what the "official" poverty measure reports, according to a recent analysis from the non-partisan Kaiser Family Foundation. The way in which the government measures poverty is important because eligibility for critical low–income programs such as Medicaid, food stamps, and rental subsidies is determined by income, and tied to the "official" U.S. poverty measure. A greater number of needy people would qualify for safety-net programs like Medicaid, if the government were to use the more accurate Supplemental Poverty Measure to determine eligibility. .Prescription Drug Re-Importation – Making safe, secure re-importation a reality.