

News
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Category Legislative News Page 31
TSCL agrees, and we enthusiastically support the PRIME Act. We look forward to working with Reps. Roskam and Carney through the remainder of the 114th Congress to help build support for the critical piece of legislation. .Senate Appropriations Committee Chairman Richard Shelby (AL) told reporters this week that a government shutdown later this month is a real possibility. He said: "This could make us all come together or it could drive us further apart. We don't know yet … I've been here on Christmas Eve." .First, on the payroll tax, he delayed payroll tax collections for those making under 4,000. President Trump instructed the U.S. Treasury to halt collection of payroll taxes from Sept. 1 through Dec. 31 for workers who earn under less than ,000 every two weeks (that's people earning under about 4,000 a year). The President has the authority to do this because it is not actually a tax cut, but rather a tax deferral, which will, as we said, have to be repaid by workers at a later date. … Continued
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Ask The Advisor March 2021
In addition, one new cosponsor – Rep. David Valadao (CA-21) – signed on to the Social Security Fairness Act (H.R. 1795) this week, bringing the total up to ninety-five. If signed into law, the bill would repeal the Government Pension Offset and the Windfall Elimination Provision – two provisions that unfairly reduce the earned Social Security benefits of millions of state and local government employees each year. .Missing Medicare Part B Enrollment Deadline Triggers Penalties .The hold harmless provision usually affects only a small number of beneficiaries in any given year, which has a relatively minimal impact on Part B financing. Since 2010, however, the hold harmless provision has been triggered on a nationwide basis an unprecedented four times. This occurred when inflation was so low that the COLA was zero in 2010, 2011 and 2016 and just 0.3 percent in 2017. … Continued
TSCL disagrees, and we fear that if triggered, the IPAB's recommendations could result in increased costs for beneficiaries or decreased access to quality medical care. In the weeks ahead, we will continue to advocate for legislation to repeal the cost-cutting board in the House and Senate, and we will post updates here in the Legislative News section of our website. .TSCL enthusiastically supports the Strengthening Social Security Act and the Social Security Fairness Act, and we were pleased to see support grow for both of them this week. ."Congressional Pay Grows 15 Times Faster Than Social Security Checks" .Some lawmakers are advocating for paid leave legislation that would require new parents to trade their future Social Security retirement benefits for twelve weeks of parental leave. This would undermine the mission of the Social Security program, increase its insolvency, and permanently cut the retirement benefits of those who take paid leave. Do you think this is a responsible proposal? .Legislation before the House and Senate would repeal the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO) so that public servants receive the Social Security benefits they have earned and deserve. Will you cosponsor the Social Security Fairness Act (S. 521, H.R. 141) when you return to Washington? .The Additional Child Tax Credit currently amounts to ,000 per child and a filer can receive a refund even if no income tax was withheld or paid. According to the Treasury Inspector General, the average amount per return in 2010 was ,800, but 9,000 taxpayers claimed a total of ,000 or more by filing for previous year tax periods. The following table illustrates the huge growth in payments to illegals. .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. .Social Security and Medicare Public Trustees Recommend Raising Eligibility Age and Benefit Formula Changes .First, on the payroll tax, he delayed payroll tax collections for those making under 4,000. President Trump instructed the U.S. Treasury to halt collection of payroll taxes from Sept. 1 through Dec. 31 for workers who earn under less than ,000 every two weeks (that's people earning under about 4,000 a year). The President has the authority to do this because it is not actually a tax cut, but rather a tax deferral, which will, as we said, have to be repaid by workers at a later date.