News

  • Tscls Medicare Advocacy

    Protection of the Social Security Trust Fund – Ensuring that the program's assets are locked out of the general budget. .The bill would reduce the number of tax brackets from seven to just four — 12 percent, 25 percent, 35 percent — and would keep the highest bracket at 39.6 percent. It also increases the standard deduction from ,350 (individuals)/,700 (married couples) to ,000 (individuals)/,000 (married couples). While the standard deduction would increase, taxpayers on the other hand would lose personal exemptions — the ones for themselves, a spouse and/or dependents, which currently are ,050 per person. Exemptions would be replaced with a 0 credit through 2022, and eliminated thereafter. .Senate Aging Committee Holds Hearing … Continued

  • Congressional Corner Protecting Social Security For Retirees And Future Generations

    That has never been truer than in this Congress. In trying to craft the new legislation to improve Medicare benefits and lower drug prices, it turns out it's not just Democrat vs. Republican, it's also Senate vs. House, Democrat vs. Democrat, and to a lesser extent, Republican vs. Republican. .Because Medicare is such a crucial program, most members of Congress usually stumble over themselves to protect it. However, if the situation ever presents itself, they will use threats to Medicare to bash the other party. .President Trump has said all week that he will not agree to pass further stimulus measures to combat the economic fallout of the coronavirus outbreak without a payroll tax cut. Trump has been advocating for a payroll tax cut since last summer, even before the pandemic, but it is opposed by most congressional Democrats and it is not clear the idea has much support among Republicans in Congress. Obviously, a payroll tax cut would have no benefit for Americans put out of work in the wake of the outbreak until they return to employment. … Continued

The Senior Citizens League supports legislation that would allow Medicare to negotiate drug prices, and limit drug price increases to the rate of inflation. .On the unemployment payments to individuals, there are a lot of legal questions about the money the President wants to use to pay for this. He calls for billion of funding from the Department of Homeland Security's Disaster Relief Fund that is normally used for hurricanes, tornadoes, and massive fires to be shifted over to unemployment. .The Senate bill also would change Medicare Part D by adding an out-of-pocket maximum for beneficiaries of ,100 starting in 202No such out-of-pocket cost cap currently exists. According to our 2019 Senior Survey, about one-in-five survey participants report out-of-pocket spending this high for prescription drugs. Advisor editor Mary Johnson estimates that this legislation would protect almost 14 million Medicare beneficiaries from out-of-pocket drug costs exceeding ,100 in the first year of enactment if signed into law. .The new effort could be part of a second package later this year and TSCL will closely examine the legislation once it is finally developed to see if it accomplishes our goals and whether we can support it. .The second issue is the COLA – specifically next year's COLA. .If you would like to continue receiving these press releases via email, please send your email address to [email protected] .Congress has until the end of this Friday to pass legislation to fund the federal government for the remainder of fiscal year 202Very few people think they'll get it done. .Retirees' budgets take a beating when prescription drug prices rise faster than the annual cost – of – living adjustments (COLAs). But new legislation moving in the Senate would address that problem. The drug bill would require drug manufacturers to pay rebates when prices rise faster than inflation. Lobbying groups for drug manufacturers don't like the idea. .Incredibly, to count as poor under the official poverty measure, your income must fall below a threshold, which is based on subsistence level food costs in 195When adopted in 1963, the poverty threshold was defined as three times the "subsistence food budget" for a family of a given size. Unlike other government measures, like the consumer price index, which undergoes continual changes to methodology, the official poverty measure has never changed, other than annual adjustments for inflation.