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    How Does TSCL Project the Social Security COLA? .TSCL is concerned that illegal immigrants who gain temporary work permits and Social Security numbers would become permanently eligible for Social Security and Medicare among other federal benefits. Here are several areas of concern: .This week, one new cosponsor – Rep. Suzan DelBene (WA-1) – signed on to Rep. Peter DeFazio's (OR-4) No Loopholes in Social Security Taxes Act (H.R. 1029), bringing the total up to thirty-one. If signed into law, the bill would extend the solvency of the Social Security Trust Fund by subjecting all income over 0,000 to the Social Security payroll tax. Currently, the payroll tax cap sits at 7,000, and no income over that amount is taxed. … Continued

  • 9 Of Seniors Prefer Checks To Electronic Deposits

    Social Security and Medicare are the targets of a growing number of new budget plans aimed at reducing federal spending. President Obama's Fiscal Commission recently voted 11-7 to cut Social Security benefits for all seniors, and require beneficiaries to pay substantially more for their Medicare. .Increase income. On average, older Americans get about 34% of their total income from Social Security; 33% from earnings; 11% from personal assets such as money in IRAs, 401(k) plans and taxable accounts, and 22% from pensions. To boost income, they could invest more aggressively in higher-yielding and perhaps more risky assets, such as long-term bonds and high-dividend-paying stocks; go back to work; or if they are still working, take on more hours. .Transportation (new vehicles, airline fares, gasoline, motor vehicle insurance) … Continued

Now Congressional Democrats, while only having a razor-thin majority in the Senate, are planning a major push to include in measures to lower drug prices in upcoming legislation meant to rebuild the U.S. infrastructure. ."Our health care system is a symbol of our national identity and we are committed to defending it. The actions we are taking today will help protect Canadians' access to the medication they rely on," said Patty Hajdu, Canada's minister of health. .The government would provide a fixed amount of money or "voucher" to purchase private coverage. Currently Medicare pays per procedure. Under this proposal the federal government would provide a fixed amount of money or "voucher," to private health plans to provide coverage. The amount of the voucher would be limited to the growth of the gross domestic product plus one percentage point. However, for the last 40 years national healthcare spending has exceeded the growth of the gross domestic product by more than two percentage points. The non-partisan Congressional Budget Office said that over time the vouchers would become increasingly inadequate to purchase sufficient coverage, or that seniors would face significantly higher premiums. .House Postpones Thursday AHCA Vote .House Committee Advances IPAB Repeal .Therefore, they are considering using the "reconciliation" process because they would only need 51 votes. But if they do that, legislation passed over ten years ago dictates that they must either raise taxes or cut spending on current programs to pay for the new spending in the President's bill. .TSCL is very disappointed to hear President Trump continue to demand a payroll tax cut before he will agree to any new legislation dealing with the effects of the pandemic emergency. .Sen. Tom Harkin (IA) introduced S. 567 on March 14, 201It has since been referred to the Committee on Finance. .What you don't know about Medicare supplements (Medigap) or Medicare Advantage plans could cost you dearly. The system is rigged in favor of Medicare insurers, and consumers often have little idea what they will need or be able to afford. Here are a few tips: