News
-
Lets End The Social Security Payroll Tax Cut
Finally, one new cosponsor – Rep. Ted Yoho (FL-3) – signed on to the Social Security Fairness Act (H.R. 1795), bringing the total up to one hundred and seventeen. If signed into law, the bill would repeal the Government Pension Offset (GPO) and the Windfall Elimination Provision (WEP) – two federal provisions that unfairly reduce the earned Social Security benefits of millions of state and local government employees each year. .Federal agencies shut down this week as Members of Congress failed to adopt a stopgap funding measure before the October 1st deadline. In addition, The Senior Citizens League (TSCL) saw one key bill gain support. .According to the Inspector General's report, of the 6.5 million active numbers, the Social Security Administration had issued payments to 266 of the number holders, but a review found that only 13 people were likely to be still alive and collecting benefits. In addition to the problem of payments to the dead, the balance of the 6.5 million active numbers pose a risk because they could be stolen to claim fraudulent tax refunds and to work illegally. The IRS has estimated that it paid out .8 billion in fraudulent tax refunds in 2013 because of identity theft. … Continued
-
2015 Legislative Update Week Ending April 17 2015
Now I say neglect, because it's been 38 years since Congress has done anything to strengthen Social Security and 50 year since we have improved its benefits. .Here are two actual cases from the Social Security Administration's Office of Inspector General, and estimates of what the cost would be over a 20-year period by Advisor editor, Mary Johnson. .TSCL acknowledges the fact that changes to programs like Social Security and Medicare will be necessary in the coming years, and we agree that changes should be made sooner rather than later to protect seniors from harsh benefit cuts. Our surveys show that seniors favor Social Security reform options that would require wealthier Americans to pay taxes on all of their earnings, and Medicare reform options that would better coordinate care and prioritize the prevention of fraud, waste, and abuse. … Continued
(CDC's mission is to protect America from health, safety, and security threats, both foreign and in the U.S. Whether diseases start at home or abroad, are chronic or acute, curable, or preventable, human error or deliberate attack, CDC fights disease and supports communities and citizens to do the same.) .(Washington, DC) – Low inflation in recent years may be helping younger workers cut costs at the gas pump, but it isn't translating into lower costs for older and retired Americans, says The Senior Citizens League (TSCL). According to a recent study by TSCL, Social Security beneficiaries have lost 23 percent of their buying power since 2000. And another year of low cost-of-living adjustments (COLAs) is in store for 2017, according to a new TSCL analysis of consumer price index (CPI) data through August 2016. .Despite claims that the proposal would have no cost for the Social Security program, research shows that it would put a financial strain on the Social Security program. According to a report released this week by the American Action Forum, this family leave proposal would have a net cost of around 6 billion, and it would advance the insolvency of the Social Security Trust Funds by around six months. .Without passage of the waiver legislation the Office of Management and Budget will impose the Medicare payment cuts at the end of the current congressional session. While Social Security, low-income programs such as Medicaid, and veterans' benefits are exempt from sequestration, Medicare payments can be reduced up to 4%. .Social Security runs two disability programs – each with separate sources of funding. SSDI provides income to under age 65 adults that is calculated from their own work covered by FICA taxes. Their benefits are paid from the SSDI Fund. The Supplemental Security Income program (SSI) also pays disability benefits, but it's for low-income people without enough of work history to qualify for SSDI. Benefits are funded through both federal (and some state) revenues, and it's means tested like welfare. .When my husband and I were planning the timing on our Social Security benefits, our financial advisor suggested that we could maximize our payout if I started with a spousal benefit based on my husband's account, while letting my own retirement benefit grow. I continued to work and started the spousal benefit at age 66, my full retirement age. Now I am 70, but have not received any notice from Social Security about my own retirement benefit. Does this mean I won't get anything higher than I already receive? .Back in February, U.S. District Judge Andrew Hanen of Texas temporarily halted President Obama's immigration orders that would have delayed the deportation of nearly 5 million illegal immigrants. The Obama administration promptly appealed that decision to the U.S. Court of Appeals for the 5th Circuit in New Orleans. .For more information about the Social Security Administration Fairness Act, visit the Bill Tracking section of our website. For updates on the administration's progress, follow The Senior Citizens League on Twitter. .The U.S. has already hit the most recent debt limit on March 2nd, just one month after the government shutdown ended. The U.S. Treasury is currently using "extraordinary measures" to temporarily keep the federal government funded, but the Congressional Budget Office estimates that the Treasury will run out of cash near the end of the fiscal year (September 30, 2019) unless Congress takes action.
