News
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Deficit Reduction Committee To Release 1 2 Trillion Plan By Thanksgiving
However, there might be other ways to augment finances, particularly through an additional tax exemption and the Child Tax Credit. The American Rescue Plan Act (ARPA) of 2021 expands the Child Tax Credit for tax year 2021 in the following ways: .With So Much At Stake It's Time to Challenge Elected Lawmakers! .The trillion Senate Republican stimulus proposal comes with a measure that could curb federal spending in the future by reducing costs tied to Social Security, Medicare, and highway trust funds. … Continued
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2015 F Q Executive Action Immigration Social Security Medicare
The Social Security Fairness Act, if signed into law, would amend the Social Security Act by repealing the government pension offset (GPO) and the windfall elimination provision (WEP). These two provisions unfairly reduce the earned Social Security benefits of millions of teachers, firefighters, peace officers, and other state or local government employees each year. TSCL believes that Congress should repeal the GPO and the WEP so that dedicated public servants receive the retirement security they deserve. .Every other developed country has evolved schemes to set or negotiate prices, while balancing cost, efficacy and social good. The United States instead has let business calculations drive drug price tags, forcing us to accept and absorb ever higher costs. That feels particularly galling for treatments and vaccines against COVID-19, whose development and production is being subsidized and incentivized with billions in federal investment. .According to the Congressional Research Service (CRS), for an age 65 retiree with average wages, a maximum benefit disparity of 10% would have arisen between the highest benefit under the old rules and the lowest benefit under the new rules if the 1977 assumptions had materialized. Under the economic conditions that actually arose, the disparity was 25%-two and one half times greater. … Continued
In addition to ensuring that we insulate seniors from fraud, we must support older Americans seeking to remain an active part of the workforce. Earlier this year, I worked with Rep. Rodney Davis (R-IL) to introduce the Empowering Encore Entrepreneurs Act to create job opportunities for seniors who have not yet reached retirement but possess years of business experience. My bipartisan bill will expand successful collaborative efforts between AARP and the Small Business Administration that offer mentoring and training to people over age 50 seeking to expand or start a small business. Older workers, once unemployed, are more likely than others to remain unemployed, which is why we need to revitalize our economy by supporting those who found themselves out of a job before retirement. .The FDA is particularly concerned that these deceptive and misleading products might cause Americans to delay or stop appropriate medical treatment, leading to serious and life-threatening harm. It's likely that the products do not do what they claim, and the ingredients in them could cause adverse effects and could interact with, and potentially interfere with, essential medications. .Pelosi is reported to be aiming for a House vote on the plan by the end of October or early November but Senate Majority Leader McConnell has already said the bill will go nowhere in the Senate. ."The ability to withstand major downturns in the economy is particularly important in retirement, yet extraordinarily difficult for today's retirees and those nearing retirement," says Johnson. "There are a number of factors that are reducing available retirement income from traditional sources," Johnson says. .Sources: "What Medicaid Cuts Will Mean For Seniors," Gleckman, Kaiser Health News, May 18, 2011. .This week, one House Subcommittee heard from the Medicare Payment Advisory Commission (MedPAC) about its most recent report to Congress, which was titled Medicare and the Health Care Delivery System. In addition, the 2013 recovery estimate was released for the Senior Medicare Patrol, and The Senior Citizens League (TSCL) saw support grow for two key bills. .Medicare alone does not cover all the costs you will have. Most people also get either a Medicare supplement to cover out-of-pocket costs and Part D plan for prescription drugs, or enroll in a Medicare Advantage plan with Part D coverage. .The week ended with a live speech from President Trump heralding the new legislation passed recently that makes mandatory the transparency of the cost of hospital treatments, supplies and prescriptions. Of most interest to TSCL is the high cost of prescription drugs. During our meetings with Congressional offices this week we left information with all of them concerning a large number of issues we are working on including prescription drug prices. .This is especially important new research at a time when Social Security faces potential changes. President Obama's "National Commission on Fiscal Responsibility and Reform" is scheduled to release its plan to cut the federal deficit by December 1st.
