News
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Legal Statement
By Mike Watson, TSCL Legislative Assistant, .Seventy-eight percent of older voters participating in TSCL's survey say they support raising payroll taxes, eliminating the taxable maximum wage cap so that everyone pays Social Security taxes on all earnings over 8,500. Unlike low - and middle - income wage earners, the highest earners today only pay taxes on the first 8,500 in earnings and enjoy a huge Social Security tax break on all on wages over that amount. A clear majority — 62% of survey participants — also favors very gradually increasing the payroll tax rate by 1% each for workers and employers. Taken together, both changes would provide enough financing to keep the program solvent for more than 50 years. .Understand what is covered and what isn't. First the good news: You are probably covered in case a meteorite strikes your home. Now the bad: Your coverage probably doesn't protect you from floods or even a sewer back up. You may be underinsured. Insurance industry surveys indicate, for example, that 43% of homeowners believe damage from heavy rain flooding is covered under the standard insurance policy. It isn't. To be protected you must purchase supplemental flood insurance or other types of riders to your homeowners policy. The same may be true of wild fires, mudslides, sink holes and other natural disasters. If you live in a high-risk zone, consider adding flood or other supplemental coverage. … Continued
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Legislative Update For Week Ending April 5 2013
If you do not wish for your mailing address to be shared with other reputable companies, please provide us with your exact name and address and we will be sure that your name is removed from the list we share with other organizations. .For those Social Security recipients concerned about making ends meet going forward, here are some tips: .Lawmakers End Partial Government Shutdown … Continued
This week, Congressman Walter Jones (NC-3) introduced the Honesty in Consumer Price Index (CPI) Reporting Act (H.R. 3500), a bill that aims to make Social Security COLAs more fair and accurate for beneficiaries. It would accomplish this by requiring the Bureau of Labor Statistics (BLS) to report the CPI using the methodology that was employed back in 1980, around the time when COLAs first became automatic. .Medicare is structured to pay more to providers based on how sick people are — not on making them well. Yet about one-half of all adults have at least one chronic condition, which is not only the most costly type of health problem to treat over time, but also the most preventable. .America's immigration policy may make a dramatic shift in the coming months. According to press reports, the new Congressional leadership may push for an immigration plan that grants amnesty to illegal immigrants residing in the U.S., and America's senior citizens are paying close attention. .The following four bills were the focus of Legislative Liaison Kluck's meetings on Capitol Hill in December… .Unlike other government penalties, such as a tax penalty, the extra 0 per month is permanent, and is payable for the rest of the time he has Medicare. To avoid further penalties, we strongly urge your daughter to get her father-in-law enrolled in Medicare Part B as quickly as possible. If her father-in-law only receives Social Security and has limited savings, he may qualify for a Medicare Savings Program that would pay the cost of the Part B premium. .To cover the cost of CPI-E Act's adoption and to improve the solvency of the Social Security program, The Senior Citizens League supports an increase in the payroll tax cap. Nearly 75 percent of our supporters agree that the wealthiest Americans must begin contributing to the program more fairly, based on the results of our 2018 Senior Survey. Several bills now before Congress would increase or eliminate the payroll tax cap, and The Senior Citizens League will continue to advocate for their passage tirelessly in the months ahead. .What is the range of the Notch years? .Because just one Senator can stall legislation through what is known as a filibuster, it takes 60 votes to pass any bill unless it is through a process called "reconciliation," which then requires only a simple majority of 51. .Some Members of Congress question whether the federal government would replace borrowing for Defense with borrowing for Medicare. Democratic Rep. Allyson Schwartz (PA-13) said the savings from the Iraq and Afghanistan wars would "offer a unique and limited opportunity to resolve this problem that grows every month." Other legislators warn, however, that it is misleading to think that these savings could be used as a "doc fix" offset.
