News

  • Legislative Update Week Ending August 26 2016

    In addition, two new cosponsors – Reps. Alan Grayson (FL-9) and Lee Terry (NE-2) – signed on to the Social Security Fairness Act (H.R. 1795). The cosponsor total is now up to one hundred and thirty-three. If signed into law, the Social Security Fairness Act would repeal the Government Pension Offset (GPO) and the Windfall Elimination Provision (WEP) – two federal provisions that unfairly reduce the earned Social Security benefits of millions of teachers, fire fighters, peace officers, and other state or local government employees each year. .Most Americans contribute 6.2 percent of every paycheck to Social Security, but due to the payroll tax cap, people earning more than 8,400 contribute nothing over that amount. Eliminating the payroll tax cap would extend the solvency of the program responsibly, without cutting benefits for seniors. Do you agree? .TSCL will continue to keep the pressure up on Congress to get this problem solved as soon as possible. … Continued

  • Ask The Advisor September 2012

    What is the purpose of this test? —Is the test being ordered for a possible (asymptomatic) disorder when you have no symptoms or clear sign of disease? Or, is it needed to confirm a suspected diagnosis? .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. .TSCL opposes any plan to hastily repeal our nation's health law without an acceptable replacement that ensures affordable quality coverage in place. We urge you to contact your Members of Congress and let them know that an Obamacare repeal that puts your family's access to healthcare into question is unacceptable. … Continued

MedPAC Delivers Report, Testimony to Congress .Why does that happen? .If the threshold is raised, many seniors who have saved for their entire lives and have carefully planned for retirement will suddenly be faced with hundreds of dollars in extra taxes—on top of the out-of-pocket medical costs they already pay. That's simply unacceptable. .It remains to be seen whether or not Congress will adopt the recommendations made by MedPAC in its most recent report. The Commission is an independent Congressional agency, but its policy recommendations are non-binding and Congress rarely takes immediate action on them. Nonetheless, TSCL will keep a close eye on the recommendations that were made this week, since they could positively affect millions of Medicare beneficiaries if enacted. ."If Congress adopts the more slowly-growing ?chained? CPI to calculate COLAs, that would cut the growth in average benefits, about ,100 per month today, by about ,742 over a 25-year retirement," states Larry Hyland, Chairman of TSCL. The benefit reductions compound over time, hitting the oldest the hardest. "By the time age 62 retirees with average benefits today reach age 84, their monthly benefits would be about 8 lower than they would receive using the current COLA methodology," Hyland says. .Taxpayers who receive pension payments. .It turns out than among seniors who are not vaccinated, the biggest problem may be access to the vaccine as opposed to opposition to getting the shot. .Senate Aging Committee Holds Hearing .The credit for qualifying children is fully refundable, which means that taxpayers can benefit from the credit even if they don't have earned income or don't owe any income taxes.