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  • Social Security Cut 20 Majority Wouldnt Able Afford Basic Essentials Says New Poll Senior Citizens League

    TSCL supports H.R. 973 and H.R. 1391 since both would modernize the Social Security program in a responsible way. We were pleased to see them gain critical support this week. .The Senior Citizens League is encouraging Congress to take the opportunity now to strengthen Social Security by beefing up the amount of earnings subject to payroll taxes, a tax provision that has widespread public support. The Senior Citizens League is delivering a letter to Congress this week calling for three tax reforms that would strengthen Social Security and provide relief to millions of older Americans. Those reforms include: .Why does that happen? … Continued

  • Ask The Advisor July 2011 Advisor

    The resolution's authors wrote, "Our plan would strengthen Medicare by offering future seniors guaranteed-coverage options – including traditional Medicare – regardless of pre-existing conditions or health history. All seniors will have the support they need to get the care they deserve." .We end the update this week with some hopeful news regarding Alzheimer's disease. According to a report from National Public Radio, there is evidence that vaccines that protect against the flu and pneumonia may actually protect people from Alzheimer's, too. The evidence comes from two studies presented last Monday at this year's Alzheimer's Association International Conference, which is being held as a virtual event. .As we have previously written, there is a bill that has passed out of the Senate Finance Committee called the Grassley-Wyden bill but Senator McConnell also refuses to bring that bill to the floor for consideration. The Grassley-Wyden bill is co-sponsored by Senate Finance Committee Chairman Chuck Grassley (R-IA) and the top Democrat on the Finance Committee, Ron Wyden (D-OR). … Continued

Sen. Sanders organized a petition drive that has garnered 400,000 signatures so far, and he is hopeful that his campaign will help prevent the adoption of benefit cuts like the "chained" Consumer Price Index (CPI). While some conferees seem to agree with Sen. Sanders, others feel that changes like increased Medicare means testing should be considered as part of a package to replace the automatic sequester cuts, which are scheduled take effect on January 15th. .2017 Loss of Buying Power Report .This week, lawmakers in the Senate adopted a budget resolution that lays the groundwork for a repeal of the Affordable Care Act. In addition, The Senior Citizens League (TSCL) announced its support for three new bills in Congress. .This week, two Members of Congress – Rep. Ted Deutch (FL-21) and Sen. Mark Begich (AK) – re-introduced the Protecting and Preserving Social Security Act (H.R. 649 and S. 308), a bill that would base the calculation of Social Security COLAs on the Consumer Price Index for Elderly Consumers (CPI-E), and gradually eliminate the cap on income subject to the payroll tax. ."The need for an Emergency COLA has never been greater," says Benton. TSCL is meeting with Congress to urge lawmakers to enact emergency legislation to provide a COLA large enough to boost benefits in 2016 and 201In addition, TSCL is asking Members of Congress to pass legislation that would use a senior consumer price index, the Consumer Price Index for the Elderly (CPI-E), to more fairly calculate the annual boost. .Chairman Johnson said: "I know that fixing Social Security will require tough choices that will affect the lives of millions of Americans. Congress has a responsibility to the American people to make these choices. And the longer we wait, the harder it gets. If we wait until the Trust Funds are exhausted, some options won't even be available anymore. We must take this responsibility seriously. Americans want, need, and deserve nothing less." .If Congress does not pass the new legislation, there will be a 2% cut starting April 1 and then a 4% cut in Medicare funding amounting to billion in early 202The cuts would be in place for each of the next five years. .More headaches are on the way this tax season. For the second year in a row, the Making Work Pay Tax Credit didn't work as planned for an estimated 13.4 million taxpayers, according to the Treasury Department's Inspector General. Seniors are high on the "Most Negatively Affected List," and may wind up owing taxes and even a penalty. .Sources: "Measuring Up: The Case for the Chained CPI," Rosenberg, Goldwein, Moment of Truth Project, May 11, 201"Changes in Calculating the Consumer Price Indexes," Congressional Budget Office, September 1997.