Proponents of the measure, which include some Democrats, say that addressing the projected shortfalls now would prevent draconian cuts or tax hikes later. The legislation would create congressional panels mandated to draft bipartisan legislation that restores solvency of the trust funds, and the bills would receive fast-track consideration in each chamber. .Thus the new formula went into effect almost immediately for most people and is one reason why retirees born over the ten-year period of 1917 through 1926 were affected, not only those covered by the five-year phase-in. In addition, the economy did not perform the way Congress and the Social Security Administration assumed it would under the new benefit formula. Slower than anticipated wage growth, and higher than expected price inflation, resulted in even greater benefit reductions than under original assumptions. These economic conditions persisted for a decade, thus affecting those born over a ten-year period. .Medicare pays the plans a pre-determined monthly amount for each enrollee. Higher rates are paid for sicker patients, and lower amounts for people in good health. The "risk adjustment" policy is intended to avoid the problem of plans cutting corners on healthcare to boost profits. But the audits found pervasive problems with many plans overstating the severity of enrollees' medical conditions, with little documentation of the medical conditions being claimed. .Last May the House of Representatives passed a second coronavirus-related economic stimulus bill that addressed the on-going economic and medical hardships resulting from the pandemic. The legislation, which passed the House, included over trillion in relief for state and local governments, around 0 billion in hazard pay for essential workers, and billion for coronavirus testing and contact tracing. .On Tuesday, the Trustees of the Social Security and Medicare programs released their annual reports on the current and projected financial status of the two programs. As expected, the Trustees found that both programs currently face manageable financial challenges. .When you start retirement benefits before your full retirement age– which for you is 66 — you may work, but Social Security will withhold one dollar in benefits for every in earnings above the limit. The question for many people who go this route is when the withholding starts. .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. .Finally, two new cosponsors – Representative Daniel Lipinski (IL-3) and Representative Glenn Grothman (WI-6) – signed on to the CREATES Act (H.R. 2212), bringing the total up to twenty-five. The CREATES Act, if adopted, would increase competition in the prescription drug industry by encouraging generic and biosimilar drug manufacturers to introduce their products to the market more quickly. .Please join us in our drive to gather 100,000 signatures on a petition to the White House by clicking Here to sign our petition or by pasting this into your address bar: https://petitions.whitehouse.gov/petition/stop-calling-payroll-tax-cuts-and-preserve-social-security-and-medicare