Category Legislative News Page 37
Which COVID-19 Vaccine Should You Take? .Larson will soon be reintroducing the Social Security COVID-19 Correction and Equity Act. This bill prevents an unintended and unanticipated cut to Social Security benefits for those affected; it also expands benefits for those who need it most during COVID who have faced long term systemic economic inequalities. .TSCL believes these three Medicare improvements were long overdue, and we were pleased that lawmakers reached across the aisle earlier this year to address them once and for all. For more information about the Bipartisan Budget Act and the other Medicare improvements TSCL is advocating for on Capitol Hill, visit our website at . … Continued
Best Ways To Save October 2019
Surveys by The Senior Citizens League find that older voters are strongly opposed to proposals that would cut benefits. For example, 73 percent support raising the amount of wages subject to Social Security payroll taxes by applying the full 12.4% payroll tax to wages above the taxable maximum —8,700 in 201Currently the highest earners — some 18 percent of all workers, pay no Social Security taxes on wages over the 8,700 maximum — that includes Members of Congress who receive an annual salary 4,000. Surveys have also found 90 percent strongly support allowing Medicare to negotiate drug costs. .According to an article last week in StatNews, a newsletter that covers health and medical issues, the answer seems to be "whichever one is available to you first." .This week, one new cosponsor – Rep. Rich Nugent (FL-11) – signed on to the No Social Security for Illegal Immigrants Act (H.R. 1716). The cosponsor total is now up to thirty-two. … Continued
Republicans Sweep Tuesday's Elections .The America's Health Insurance Plans (AHIP) trade group commission released a report claiming that insurance premiums would increase by 1.9 to 2.3 percent by 201The report asserts that the new fee will be passed on to consumers. Citing the annual fee on insurers mandate under the Affordable Care Act, an AHIP spokesperson predicted the increase in costs would act "just like any other sales tax." The White House disputed the claim, saying that the report was "fundamentally flawed" and ignored provisions of the law that would decrease costs. .This week, in elections nation-wide, Republicans in the House and Senate held on to their majorities, and President-elect Donald Trump defied odds to win the White House. .When you buy an immediate annuity, you give up control of a hefty lump-sum of your retirement savings and you can't change your mind and get your money back once you buy it. When you and your beneficiary die, no money goes to your heirs. .The CBO recommended substantial changes in tax and/or spending policies in the near future in order to put the federal budget on a sustainable path forward. Acting sooner rather than later is important, the authors noted, so that those affected by any changes have plenty of time to prepare, so that uncertainty can be reduced, and so that long-term interest rates can be held down. Members of the House Budget Committee seemed to agree during Wednesday's hearing, and Chairman Paul Ryan (WI-1) stated: "If this report tells us anything, it's that the status quo isn't working." .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 . Lisa Kiplinger, USA TODAY 8:41 a.m. EDT June 27, 2016 .The income threshold that subjects a portion of Social Security benefits to tax was first set by legislation in 198Before 1984 Social Security benefits weren't taxed, but a financial crisis threatened Social Security in the early ‘80s providing the impetus for Congress to impose the new tax in order to beef up revenues. The tax increase was sold to the public as a tax on "high income" beneficiaries, and it was — in 198At that time only 10% of Social Security beneficiaries paid the tax. But today, it is different. During the 2015 tax season an estimated 56% of Social Security beneficiary households like yours owe federal income taxes on part of their benefit income, according to the Social Security Administration. .The House passed the bill yesterday and the Senate is expected to take it up next week.