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  • Category Legislative News Page 40

    Unfortunately, no. The highly controversial U.S. Social Security Totalization Agreement with Mexico that was signed by the Bush Administration is still pending. The agreement has not been submitted for review to the President or Congress, but that could quickly change, particularly in an election year. TSCL believes that if put into effect as it currently is written, the agreement would drain funds away from Social Security that are needed for the benefits of U.S. senior citizens. Totalization agreements were designed to eliminate dual taxation that occurs when a workers from one country works in another country and is required to pay Social Security taxes to both countries on the same earnings. .Last week TSCL was contacted by the office of Congressman Peter DeFazio (D-Wash.) seeking our endorsement of legislation he is introducing titled the "Social Security Stabilization and Enhancement Act." Rep. DeFazio says this bill is a fix for the looming Social Security Trust Fund insolvency. .Dr. Conway assured lawmakers on the Finance Committee that CMS is carefully reviewing comments from the public about the proposed program, and that the Administration is committed to working closely with stakeholders to improve the proposal. He said, "Our goal is to be responsive to the public comments and input from Congress while preserving the integrity and effectiveness of the model." … Continued

  • Legislative Update Week Ending February 3 2017

    (Washington, DC) – After no annual cost of living adjustment (COLA) this year, older Americans are likely to get a boost for 201But the increase will be so small that it will be the lowest ever paid, according to a new forecast by The Senior Citizens League (TSCL). .The main purpose for the Senate's return was to work on confirming to office many of the appointments of the Trump administration. These include leaders of many government departments as well as judicial appointments. .A balanced budget amendment recently under consideration in Congress would have a disproportionate impact on Social Security and Medicare. These programs are responsible for about 40 percent federal spending in 201House Speaker Paul Ryan recently said he hopes to overhaul entitlement spending before he leaves Congress at the end of his term. … Continued

These trends are likely to continue a rapid climb in years to come. The first jump in the ESF coincided with the big increase in illegal immigration of 1970's. When Congress overhauled immigration laws in 1986, amnesty was offered to immigrants who could prove they were longtime, law-abiding residents. About 3.1 million were legalized, twice as many as the government expected. Because the law had no provisions for any new workers to enter, illegal immigration continued.(8) .This week, TSCL endorsed two new bills from Congressman Lloyd Doggett (TX-35) – the Transparent Drug Pricing Act (H.R. 4116) and the Competitive DRUGS Act (H.R. 4117). If signed into law, the bills would promote transparency in the prescription drug industry and prevent anti-competitive pay-for-delay deals, in which brand-name drug companies pay generic drug makers millions of dollars to delay the introduction of their generic medicines to the market. .In addition, one new cosponsor signed on to the Strengthening Social Security Act (H.R. 3118), bringing the total up fifty-two. The new cosponsor is Rep. Mike Quigley (IL-5). If signed into law, the bill would reform the Social Security program in three ways: it would adjust the benefit formula, resulting in more generous monthly benefits; it would adopt the Consumer Price Index for Elderly Consumers (CPI-E), resulting in more accurate cost-of-living adjustments (COLAs), and it would lift the cap on income subject to the payroll tax. The bill would extend the solvency of the Social Security Trust Fund responsibly, without cutting benefits for seniors. .Before spending the money, you may be able to accomplish a lot of your own retirement planning by exploring free or low-cost resources in your community. Try starting with educational programs offered by your local senior center, community college or public universities. Ask about classes and workshops specifically designed to help people over 60 learn about and think through major aspects of retirement and aging. Here are some questions to help get you started: .Three Key Bills Gain Cosponsors .Senate Minority Leader Harry Reid (NV) told reporters on Wednesday, "The CR is not done; it's a work in progress … This isn't going to be wrapped up in the next couple hours, that's for sure." In addition, Senator John Thune (SD) said, "I think [Majority Leader McConnell's] goal all along has been to try and get something considered by the end of this week, to try and wrap things up. But I'll just tell you, my own view is that, based on past experience, I don't think we'll get there this week. I think this probably spills into next week." .Government officials, like the head of the Department of Veterans Affairs, can opt out of buying American drugs if the product is not produced "in sufficient and reasonably available commercial quantities" in the United States or buying the product in America would raise procurement costs by 25 percent. .Sources: Hearing on Combating Waste, Fraud, and Abuse, Office of the Inspector General, Social Security Administration, January 24, 201"Levin, Conrad Introduce CUT Tax Loopholes Act," Senator Carl Levin, February 7, 2012. .As part of our continuing efforts to find ways to lower the costs of prescription drugs, TSCL supports the idea that people should ask their doctors if taking a generic is available and appropriate for their specific ailment.