News

  • Odds Growing Zero Cola 2016

    Third, one new cosponsor, Representative Jamie Raskin (MD-8), signed on to the bipartisan Fair COLA for Seniors Act (H.R. 1553), bringing the total up to twenty-seven. If adopted, this bill would better protect the purchasing power of Social Security benefits by adopting a more adequate Social Security cost-of-living adjustment (COLA). Under current law, COLAs underestimate the inflation seniors experience because they are based on the way young, working Americans spend their money. As a result, Social Security benefits have lost 33 percent of their purchasing power since 2000 according to our research. .Tax Plan Moves to Conference Committee .Whenever possible, share your views with your elected officials. It is important that they are made aware of how their constituents feel. Remember, you are the one who has control over their job security. You could either call or write your Members of Congress. You can find your member of Congress, as well as their address and phone number, through the Guide to Contacting Congress feature on the Home page of this web site. … Continued

  • Legislative Update For Week Ending August 14 2015

    There's hardly anyone who isn't feeling the effects of our "Great Recession." We've learned of seniors sharing depression-era survival techniques with younger family members. Meanwhile their Baby Boomer children nearing retirement wonder if they'll ever have enough money to retire. .The first new rule affects Medicare Part B drug costs, which are typically infused or injected drugs used mainly in the treatment of cancer. The intent is to cap the cost of those drugs at the lowest price that drug manufacturers receive in other countries and to pay doctors a flat fee for each dose of a drug, instead of a percentage of each drug's cost. .The nation's pharmaceutical industry has pushed back against the potential order, arguing that the United States should not shut itself off from a global supply chain. … Continued

The IRS also issued similar warnings about coronavirus imposter scams related to stimulus checks, overdue payments, filing extensions and other tax related topics. .Warning: Scams prey on seniors and others .The Hard Times Guide to Retirement Security .— are relatively young and, .One of the most important results of this change is that the Senate Majority Leader controls what legislation moves through the Senate. That is crucial in determining what happens in terms of President Biden's agenda in the next two years. .First, one new cosponsor – Representative Conor Lamb (PA-18) – signed on to the Social Security 2100 Act (H.R. 1902), bringing the total up to 17If adopted, H.R. 1902 would strengthen Social Security benefits by improving the cost-of-living adjustment (COLA), increasing monthly benefits by 2 percent, creating a new Special Minimum Benefit equal to 125 percent of the poverty line, and providing a tax cut to millions of Social Security beneficiaries. To cover the cost of these changes and to extend the solvency of the program through the year 2100, it would apply the payroll tax to annual income over 0,000 and gradually increase the payroll tax rate by 0.25 percent. .If adopted, this key bill would improve Social Security COLAs by basing them on the CPI-E, and it would cover the cost by phasing out the payroll tax cap over the course of seven years. Together, these changes would improve the adequacy of Social Security benefits and strengthen the solvency of the Trust Funds past 2035. .Legislation to Stop Medicare Cuts Passes in Senate .TSCL feels strongly that the Guaranteed 3 Percent COLA Act would go a long way in ensuring the retirement security seniors have earned and deserve. We lend our enthusiastic support to H.R. 3588, and we look forward to working with Congressman Engle through the remainder of the 114th Congress to help build support for his important new bill.