News

  • Colas Go Flat Seniors May Get 1 7 Cola In 2014

    We could, too, but would need to consider mechanisms outside of our current box — at least for this national emergency. .I'm a divorced retiree and I file taxes as a single household. Can you tell me why my benefits are taxed and how the income threshold that subjects Social Security benefits to tax is set? People who have adjusted gross incomes of ,000 (individual) can barely cover living expenses, let alone taxes too. Is there anything I can do to reduce this tax? .Also this week, Senate Finance Committee Chairman Charles Grassley (R-Iowa) expressed optimism that he will gain support for the bill to lower prescription drug prices that he and Senator Ron Wyden (D-Ore.) have written. Grassley's remarks came in the light of President Trump's State of the Union speech where he thanked Grassley for his work on the drug price issue and urged Congress to get a bill passed and sent to him. … Continued

  • H R 46 Social Security Safety Dividend Act

    While a drop in inflation should mean that people don't have to spend as much money due to higher prices, that hasn't been the case for older households, according to a survey by TSCL. The majority of survey participants, 72 percent, reported that their household budgets had gone up per month during 2015 even though the CPI-W in 2015 indicated that no COLA (for 2016) was payable. .In fact, generic medicines represent around 90 percent of all prescriptions dispensed in the U.S., and we depend on China for 80 percent of the core components to make our generic medicines. .Article I of the United States Bill of Rights guarantees citizens the right to petition the government for "redress" of grievances. Individuals build greater political clout when they join forces with other like-minded activists to press for change. Time is running out for Notch Babies. TSCL members and their families, friends, and supporters will not allow the Notch Issue to quietly die away, but will continue to press for compensating those born during the Notch period as long as they set that as their number one legislative goal. … Continued

Surveys have found that public opposition to cutting benefits is widespread, but there is support for changes that would make Social Security payroll taxes more equitable. According to TSCL's 2017 Senior Survey, 73% of survey participants support abolishing the taxable maximum cap and to apply the full 12.4% payroll tax to all earnings. .Put your mother's apartment on the market and work to sell it. This means giving it a thorough cleaning, a fresh coat of paint if needed, and minor repairs. .TSCL has many veterans among its supporters and no-doubt not all of them have a disability rating so they may be happy to know that Congress is considering including them in the VA's Covid-19 vaccination efforts. .On behalf of The Senior Citizens League's (TSCL's) one million members nation-wide – 4,803 of whom are your constituents – I urge you and your colleagues in Congress to reject the elimination of the medical expense deduction. .A majority of seniors 65 and older who receive Social Security depend on it for at least 50 percent of their total income, and one in three beneficiaries rely on it for 90 percent or more of their total income. TSCL is fighting proposals to cut COLAs. TSCL believes that seniors could receive a more fair COLA if the government were to use a consumer price index that more closely tracked the spending patterns of seniors. .Voters are worried about the impact that midterm elections could have on Social Security benefits. The U.S. Congressional Budget Office estimates that recent tax reform will add .8 trillion to the federal deficit over the next 10 years. To make matters worse, the Social Security trustees recently reported program financing has eroded, and estimated that the trust funds will run short by 2034, due to lower-than-expected revenue from tax law changes. .In addition to a growing number of people affected by the tax, those who are affected pay a growing share of their benefits in taxes as well. The Congressional Budget Office estimates that 52 million Social Security beneficiaries paid 6.7% of their Social Security benefits as income tax in 2014, and projects that will rise in the future to 10% or more. .TSCL Calls On Congress To Close The Loop Hole .House Democrats also Unveil Proposals to Lower Drug Prices