"The ability to withstand major downturns in the economy is particularly important in retirement, yet extraordinarily difficult for today's retirees and those nearing retirement," says Johnson. "There are a number of factors that are reducing available retirement income from traditional sources," Johnson says. .The revenues from taxation of benefits are earmarked for funding Social Security and Medicare benefits. "Those revenues take on added importance for the 2020 tax year, as the coronavirus takes a significant toll on Social Security and Medicare payroll tax revenues," Johnson says. .The inspector general has recommended that the IRS should require ITIN filers claiming the Additional Child Tax Credits to provide documentation that their dependents meet the qualifications for the credit, including residency. The IRS disputes this, saying that it doesn't have the legal authority to verify and disallow the child tax credits. .The study examined the increase in costs of 40 key items between 2000 and January 2020. The items were chosen because they are typical of the costs of most Social Security recipients, and include expenditures, like the Medicare Part B premium, that are not measured by the index currently used to calculate the COLA. Of the 40 items analyzed, 26 exceeded the COLA over the same period while 14 were lower than the COLA. .Social Security survival strategies with COLA only at 0.2% .TSCL has serious concerns about several of the provisions in the AHCA, including the tax cut that would endanger the Medicare program. As discussions continue to advance the bill, The Senior Citizens League (TSCL) will continue to monitor them, and we will advocate on Capitol Hill for policies that would protect the Medicare Trust Fund while reducing out-of-pocket costs for older Americans. For progress updates, follow TSCL on Facebook or Twitter. .This week, lawmakers remained in their home states and districts to continue campaigning for the November 8th elections. They are expected to return to Capitol Hill in mid-November to begin the lame duck session of Congress. Until then, most lawmakers will be attending local events and holding town hall meetings in their home states and districts. .Here's something hard to believe, but true. Our government is paying Social Security benefits to thousands of Mexicans who don't live in this country, or were never entitled to benefits based on their own work record. A new report from the Social Security Office of Inspector General details the growing problem of thousands of Mexicans who routinely visit the United States once a month to establish a claim to Social Security benefits. ."The Senior Citizens League Predicts Social Security COLA May Be Post-Election Deficit-Cutting Target"