News
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Congressional Corner November 2013
We are no longer physically able to work, so we're concerned that current Social Security and Medicare benefits and future COLAs will be cut via D.C. shenanigans and slight-of-hand legislation, thus making our financial situation worse. .Sources: "Policy Brief: The Evolution of Social Security's Taxable Maximum," Social Security Administration, September 2011, No.2011-02. .Can You Tell Me What to Expect in The Part D Doughnut Hole? … Continued
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Legislative Update For The Week Ending July 8 2011
Finally, locality pay is subject to the approval of the President, and thus subject to politics. In 2019, the average locality pay adjustment was 0.5%. The annual COLA was 2.8%. The calculation has also been challenged by economists and the nonpartisan CBO as not being accurate. What do you think about using locality pay adjustment rates to adjust Social Security? To send a comment or take a poll on this topic visit . .Is Social Security A Ponzi Scheme? How Much In Social Security Income Can I Expect To Get? .I retired seven years ago at age 65 when I started Social Security and Medicare. I have difficulty budgeting my healthcare costs. I never seem to learn what they will be until I start getting the bills. Can you help? … Continued
TSCL is continuing to meet with Members of Congress to ask for their support and passage of "The Notch Fairness Act" which was recently re-introduced in the U.S. House by Representative Mike McIntyre (D-NC), and in the Senate by Senator David Vitter (R-LA). The legislation, seeks to correct a disparity in benefits caused the last time Congress overhauled the Social Security benefit formula in 1977. .Commodities and Services Pricing Survey, an establishment survey of businesses selling goods and services to consumers, used to provide the price data for the CPI .The rule would require drug companies to give Medicare beneficiaries rebates that now go to insurers and PBMs. The nonpartisan Congressional Budget Office estimates it would increase taxpayer costs by 7 billion over 10 years. .Provide a modest boost in monthly benefits to retirees to make up for years when no COLA, or only a negligible COLA, was payable. ."But Democrats arguing for the change are pointing to rising costs of brand-name drugs and insurance plans that increasingly require patients pay more money toward their own care, forcing them to ration insulin and other drugs. They also note that H.R. 3 includes billion for biomedical research." .The U.S. Supreme Court is expected to decide a case in June that could have far -reaching implications for Social Security and Medicare. The Obama Administration has asked the Supreme Court to reinstate its executive action plan on immigration. The plan would give temporary relief from deportation and work permits to almost 5 million unauthorized immigrants. Should the Supreme Court find in favor of President Obama, his Administration would have 7 months to implement the program before his term ends. .On Tuesday – three months later – a panel of three judges rejected the Obama administration's request in a 2-1 decision. They ruled that the state of Texas does have the legal standing to challenge President Obama's executive orders since implementing them will be costly to the state. .Over 3 million Notch Babies have joined TSCL's grassroots fight for Notch Reform, by adding their names to the TSCL Notch Reform Registry. The registry acts as a list of senior Americans who are on record as supporting Notch reform and want Members of Congress to pass "The Notch Fairness Act" (H.R.1001) introduced by Representative Mike McIntyre (NC-7) and (S. 118) introduced by Senator David Vitter (LA). .This week, TSCL announced its support for legislation that Rep. Dana Rohrabacher (CA-46) recently re-introduced: the No Social Security for Illegal Immigrants Act (H.R. 2745). Each year, millions of unauthorized workers use invalid, stolen, or fraudulent Social Security numbers to get jobs in the United States. Later, if they receive "green cards" or work authorization, they may file a claim for Social Security benefits based on those illegal earnings. TSCL feels that Congress should put an end to this practice in order to protect the integrity of the Social Security program and to prevent further strains on the Trust Fund. Rep. Rohrabacher's bill – which was introduced with twenty cosponsors last week – would do just that, and we look forward to working with him throughout the 113th Congress to help build support for it.
