News
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Legislative Update Week Ending March 20 2015
Currently doctors are paid for every service they provide, giving a big incentive for wasteful duplication. Patients wind up getting repeated tests, X-rays, CT scans and procedures involving expensive computerized equipment. .A Census Bureau poll of how households are handling their medical needs during Covid-related closures and stay-at-home orders found that millions are going without care. In the last four weeks to June 9 an estimated 87.7 million people across the nation delayed getting care, while nearly 71 million needed it for something unrelated to Covid-19, but did not get it, .When working Social Security recipients who are younger than full retirement age earn more than the annual earnings limit amount, their benefits will be reduced. The Social Security Administration likes to point out that these benefit reductions are "not truly lost because your benefit will be increased at your full retirement age to account for benefits withheld due to earlier earnings." But as you have discovered, you can sometimes wind up owing money to Social Security that was not withheld properly. … Continued
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Q September 2018
How would seniors go about improving Social Security's financing in the future? A clear majority, 67% strongly agree that it would be fair to require workers to pay Social Security taxes on all of their income rather than letting some pay nothing on income over 0,000. More than 42% strongly agree that with Americans living longer, it would be fair to raise the age for full retirement very gradually, by two months per year to age 69 for people who are age 49 and younger. TSCL was inundated with email comments, and what you're saying should give incumbents pause. .As you know, the medical expense deduction is essential for older Americans who disproportionately experience high medical costs for prescription drugs, medical equipment, or services like nursing home care. Around 5 million taxpayers, most of whom are over the age of sixty-five, rely upon the tax deduction when their out-of-pocket medical costs total more than 10 percent of their annual income. .Social Security Administration data indicate that, since 2000, the ESF grew at an unprecedented pace. According to TSCL's new report since 2000, the SSA has received, on average, 8.8 million suspicious wage reports annually. Cumulative wages in the ESF since 1980 now total more than .2 trillion, unadjusted for inflation. Wages are of importance because Social Security benefits are based on an individual's earnings record, not the taxes paid in. … Continued
Resources: The Medicare Rights Center has an online tool called "Medicare Interactive" that can answer more of your questions about prescription drug coverage. Try it at www.MedicareInteractive.org. .Another Social Security reform bill – the Social Security for Future Generations Act (H.R. 2855) from Congressman Al Lawson, Jr. (FL-5) – gained one new cosponsor this week. The new cosponsor, Congressman Gregorio Kilili Camacho Sablan (MP-1), is the nineteenth lawmaker to officially sign on to the bill. If adopted, it would strengthen and improve the program by adopting the CPI-E, applying the payroll tax to income over 0,000, creating a new benefit for widows and widowers, and increasing the Special Minimum Benefit so it equals 125 percent of the poverty line. .Pfizer and Moderna also are studying the effect of their vaccines on asymptomatic infections. .If you have not filed a return for 2020, the IRS urges people with children to file one as soon as possible. Even if your grandson was not with you in 2020, eligible taxpayers have the opportunity to update information about changes in income, filing status or the number of qualifying children. The IRS is continuing to update information about this credit which can be found at: https://www.irs.gov/credits-deductions/advance-child-tax-credit-payments-in-2021. .Now there are ads in various parts of the country being run by the Democratic Congressional Campaign Committee, accusing House Republicans of doing the bidding of drug industry donors by opposing the bill. Unremarked upon are the House Democrats who've also received money from the industry — and whose opposition is seen as potentially fatal to the legislation. .Article I of the United States Bill of Rights guarantees citizens the right to petition the government for "redress" of grievances. Individuals build greater political clout when they join forces with other like-minded activists to press for change. Time is running out for Notch Babies. TSCL members and their families, friends, and supporters will not allow the Notch Issue to quietly die away, but will continue to press for compensating those born during the Notch period as long as they set that as their number one legislative goal. .What Was I Thinking? .Throughout the remainder of the 113th Congress, TSCL will continue to urge Members of Congress to pass the Social Security Fairness Act since we believe strongly that it would go far in ensuring the retirement security of millions of seniors. To aid us in our efforts, we encourage you to contact your elected officials to request their support for S. 896 and H.R. 1795. .The month of August presents constituents with the perfect opportunity to do just that. Both the House and the Senate adjourn for the month, and many Members of Congress travel home to hold town hall meetings. The Senior Citizens League (TSCL) encourages you to make the most of this month by attending town halls and making your voice heard. Below are summaries of three key issues, along with sample questions. Feel free to take them with you to your next meeting.
