News
-
Legislative Update June 2015
After the hearing TSCL contacted Chairman Larson's office to ask why he hasn't reintroduced his Social Security 2100 bill yet and we look forward to hearing from him about this. We have been urging him to do so for weeks now and we hope he will do it now. .In a letter of support for the bill, Ed Cates – TSCL's Chairman – wrote: "As you know, Social Security beneficiaries today are struggling to keep up with rising costs. Our research shows that seniors have lost over 20 percent of their purchasing power since 2000, and last year, their benefits increased by while their expenses jumped by nearly 0. These are clear signs that the COLA is growing too slowly." .Social Security recipients can look forward to receiving an annual cost – of – living adjustment (COLA) of about 1.8 percent in 2018, according to an estimate released today by The Senior Citizens League (TSCL). "A COLA of that amount would make it the highest since 2012 — but even at 1.8 percent, the raise is less than half of the 4 percent that COLAs averaged from 2000-2009," says TSCL's Social Security policy analyst, Mary Johnson. … Continued
-
Notch Bulletin January 2011 Feed
What's Missing From Your 2015 Social Security Check? About 3 Says The Senior Citizens League .The President ordered a payroll tax deferral, not a cut, meaning the taxes will not be collected for a while but they will still be due at a later date. However, some observers have suggested that rather than give employees the additional money and then try to collect it back from them at the end of the year, employers will simply hold onto the money so that the employees would never see it in their paychecks. .When the Great Recession hit eight-plus years ago, the focus was on the double-digit unemployment rates and the devastating impact on recent college and high school graduates. Largely ignored in the discussion were mature workers who were hit equally as hard. … Continued
Most Committee Members seemed to agree with him but as the hearing went on, it became clear just how difficult the task will become under strict time constraints and in a politically-charged environment. Most Members shifted their focus toward reforming the corporate code, since it will likely be more politically feasible. Co-chair Jeb Hensarling (TX) stated, "Fundamental tax reform, even if limited to American businesses, can result in both revenues for economic growth and jobs for the American people." By lowering the corporate tax rate from 35 percent to 25 percent and by eliminating loopholes, Hensarling said that 2.1 million jobs would be created over ten years. .Access to Medicare and Medicaid including community-based long-term care support and services and programs that make Medicare more affordable. .Source: "Senators Introduced Medicare Reform Plan: The Congressional Health Care for Seniors Act," Paul.Senate.Gov, March 15, 2012. .Again, next year, a number of physicians and medical specialists were facing sharp Medicare pay cuts. This was to come, of course, in the face of the worst pandemic in our lifetimes and one which has worn so many physicians and nurses to the point of exhaustion. .While employment plunged at the height of the recession in 2009, new data from the Social Security Administration (SSA) suggests that millions of illegal immigrant workers hung onto their jobs. Employers sent in 7.7 million wage reports of workers whose names and Social Security numbers (SSN) don't match those on the SSA's files for 200The "mismatched" wage reports are frequently caused when the SSA receives copies of W2s for illegals who work under stolen, false or invalid SSNs. Although employment among illegal workers appears to have declined in 2009, the number of such "mismatched" wage reports that the SSA received from 2000 - 2009 averaged 9.5 million per year. .If signed into law, the Medicare Physician Payment Innovation Act would repeal the sustainable growth rate (SGR) formula for physician reimbursements, and it would set up a five-year trial period during which the Centers for Medicare and Medicaid Services would test and evaluate new payment and delivery models. TSCL strongly believes that the SGR formula breeds uncertainty in the Medicare program for both physicians and beneficiaries. Many doctors have stopped accepting Medicare patients, and many more are threatening to do so if a permanent solution is not established soon. We believe that Rep. Schwartz's bill would bring increased stability to the Medicare program, and we were pleased to see four new cosponsors announce their support for it this week. .Congress should allow Medicare to negotiate drug prices by tying U.S. prices to prices paid in other industrialized countries like Canada, Great Britain and Japan where prices are lower. — 85 percent support, 13 percent not sure, and only 2 percent opposed. .This week, The Senior Citizens League was pleased to see support grow for three important bills that would strengthen the Social Security program if signed into law. .But when hold harmless is triggered more widely than usual, as we expect to be the case in 2021, there is no provision of law with which to finance the unpaid portion of Medicare Part B premium increases of the roughly 43 million who are protected by the provision. In the past, Congress has chosen to allow this cost burden to shift to the 30 percent of beneficiaries who are not held harmless. Because the cost is spread over far fewer people, instead of all beneficiaries, those who are not protected by hold harmless pay a far larger share of the costs, thus the huge Part B premium jumps.
