News

• Legislative Update September 2019

  The budget resolution now heads to the House floor, where its future remains uncertain. Republican leaders in the House have been attempting to win the support of the 40-member conservative Freedom Caucus for weeks, but they have not yet been successful. They will need to rely upon a least a dozen of their votes for its passage. Budget Committee Chairman Tom Price (GA-6) told reporters this week that he is "working with members who are not on the Budget Committee" to build support for it, and that it will be taken up "when we have the votes." .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. .Legislation passed in 1983 required all Members of Congress to pay into Social Security. That said, like all high-income workers, they only pay Social Security up to the maximum taxable wage, which in 2012 is 0,100. Thus Members of Congress pay no Social Security taxes on the additional ,900 they receive as salary. Since Members of Congress are high-income earners, they are also in line for the maximum tax break due to the payroll tax cut extension. The payroll tax rate has temporarily been cut by 2%, meaning Members of Congress will save ,002 in 2012. … Continued

• As Food Heating Prescriptions Climb Another Low Cola In 2013

  A retirement coach might be helpful, but the fees can be pricey. A retirement coach differs from financial advisors by helping clients with nonfinancial social issues you need to consider in retirement. These include finding the right type of housing, figuring out Social Security and Medicare benefits, transitioning into second careers or volunteer work, and staying engaged with others in the community. A retirement coach will help you think through what you want and help you develop plans to attain those goals. A coach can also advise clients on managing aging parents or younger family members and provide help for maintaining a healthy state of mind. .At the time of writing this week's update, the House had not yet voted on the measure, but its passage is expected in that chamber by Friday. The committees of jurisdiction will then begin working on legislation to repeal the health care law. Through the budget reconciliation process, the Affordable Care Act is expected to be repealed by as early as February, and lawmakers hope to have a replacement plan signed into law soon after. .Three Bills Gain Cosponsors … Continued