2019 Social Security Cola 2
While the U.S. Treasury predicts the government will run out of cash as early as March 31st, illegal immigrant workers may have pocketed billions in 2009 and 2010 in advance Making Work Pay tax credits for which they are not eligible. The Making Work Pay tax credit specifically banned people without valid Social Security numbers from receiving the credit. But because the tax credit was paid in advance in higher paychecks through lower tax withholdings, millions of illegal workers undoubtedly would have received the money, even though they may not have filed a tax return. .Sources: "Salaries of Members of Congress," Ida A. Brudnick, Congressional Research Service, February 1, 2012. .This year, we challenged our members to be more vocal than ever about their Social Security and Medicare concerns, and our expectations were surpassed to say the least! Our members signed an unprecedented 1,504,372 petitions, and in April, we boxed them up, trekked to Capitol Hill, and delivered them by hand to the offices of each Representative and Senator in the U.S. Congress. … Continued
Legislative Update For Week Ending January 11 2013
(Washington, DC) – Providing a cost-of-living adjustment (COLA) in 2016 should be the next top priority for Congress, according to a new poll of retirees released today by The Senior Citizens League (TSCL). When asked, "Which of the following should be the most important priority for Congress in the next few months?" the majority of poll respondents — 34 percent — said that Congress should "Provide a higher and more fair COLA." In October the Social Security Administration announced that inflation is so low there would be no COLA next year. "But Social Security beneficiaries today are struggling to keep up with rising costs, and next year's zero COLA will put them even further behind," says TSCL Chairman, Ed Cates. .There is no simple, direct mechanism for regulators or legislators to control pricing. Our laws, in fact, favor business: Medicare is not allowed to engage in price negotiations for medicines covered by its Part D drug plan. The Food and Drug Administration, which will have to approve the manufacturer's vaccine for use as "safe and effective," is not allowed to consider proposed cost. The panels that recommend approval of new drugs generally have no idea how they will be priced. .He also did not provide any more money to help renters. The executive order calls only for Treasury Secretary Steven Mnuchin and Housing and Urban Development Secretary Ben Carson to see if they can find any more funds to help. It does not promise more aid. … Continued
The Potential Cost to Social Security Trust Fund Is Growing At An Unprecedented Pace .On Thursday – seven years to the day that the Affordable Care Act (ACA) was signed into law – lawmakers in the House were scheduled to vote on the AHCA. However, lacking the 218 votes needed to win passage, leaders postponed the vote. After last-minute changes were made to the text – including a repeal of the ACA's "essential health benefits" requirement – President Trump demanded a Friday vote. .If you asked a Social Security recipient for a penny for their thoughts on next year's projected 0.2% cost of living adjustment, they could give it to you, but they'd only have .99 left. .Members of Congress adjourned for the holiday recess this week, with the Senate returning on Thursday to resume Fiscal Cliff negotiations. .Shoring up the Medicare Part A Trust Fund will be more difficult. Simply cutting payments to hospitals would not be in the best interests of patients or hospitals, because many medical centers are already faltering financially. .Finally, when older workers do land new jobs, they typically experience a steep drop in income and benefits. Median wages for people who take new jobs in their fifties fall by a median of 57 percent, and 25 percent lose their health insurance. .Only twice in the history of Medicare was the therapy cap actually implemented. In 2003, the cap was set at ,500 until the cap was once again halted from being implemented that same year. Then earlier this year the cap briefly went into effect again. Congressman Erik Paulsen (MN-3) introduced the Medicare Access to Rehabilitation Services Act of 2017, a bill that would repeal the therapy cap permanently. This bill gained the bipartisan support of 240 cosponsors in the House of Representatives and TSCL was proud to endorse and build support for this piece of legislation. .Mandatory programs are those, like Medicare, that are automatically funded every year without passage of annual legislation to pay for them. Congress can, however, waive the PAYGO rules to avoid the payment cuts. .Medicare Reform – Protecting seniors from sudden and harsh changes to the program.