A report released by the House Oversight Committee last week said that from 2016 to 2020, the 14 top drug companies spent 7 billion on stock buybacks and dividends. That is some billion more than the amount spent on research and development, the report said..Although the new tax law almost doubles the standard deduction, and increases the deduction for taxpayers over the age of 65, The Senior Citizens League still encourages older taxpayers to compile and check medical and other deductible expenses before automatically taking the new standard deduction. The Senior Citizens League is working for passage of legislation that would lower or eliminate the taxation Social Security benefits, and strengthen Social Security for all..Social Security benefits are one of the few types of retirement income to be automatically adjusted annually for inflation. In 2020, more than 61 million Social Security recipients received a 1.6 percent annual COLA, which raised the average ,460 benefit by .40 per month..House Subcommittee Holds "Doc Fix" Hearing."Already in 2020, the companies' PACs have donated .62 million to individual candidates or their affiliated committees. The companies directed another .59 million to broader political groups like the Moderate Democrats PAC or the National Republican Senatorial Committee, and to other drug industry PACs, including PhRMA's.".How the Categories Compare Between the CPI-W and the CPI-E.I recently learned that my ex-spouse passed away due to the coronavirus. He was older than I am, and had already started Social Security. He was getting about ,875 before we divorced. I'm remarried now, but my husband hasn't started benefits. He's only working part time. Would I possibly qualify for Social Security widower's benefits based on my ex-husband's Social Security?.Once the Social Security reform trigger has been pulled, the House budget resolution stipulates that the Trustees would have until September 30th of the same calendar year to submit recommendations for the changes necessary to achieve a positive 75-year balance to the President. The resolution would then require the President to submit legislation to Congress within 60 days of receiving the Trustees' recommendations. President Trump promised repeatedly on the campaign trail not to touch Social Security..I look forward to working with my colleagues on both sides of the aisle to tackle these challenges. As we do, we must remember our sacred commitments to preserve Social Security and Medicare to the seniors who served and built our country.

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Work on Funding Bill Continues.Petition to Congress in Support of Social Security Notch Reform.On Thursday, after thirty hours of debate, the Senate voted to confirm the nomination of Sylvia Mathews Burwell as the next HHS Secretary. Burwell has served as the Director of the Office of Management and Budget for the past year, and she will now replace Secretary Kathleen Sebelius, who announced her resignation in April. In her new position, Burwell will manage the Social Security, Medicare, and Medicaid programs, and she will also oversee the continued implementation of the Affordable Care Act, among other things. … Continued

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Charitable contributions, and the donation of goods, provided you have receipts for the donations..Thus, under this hypothetical legislation, benefit obligations could not be met after the depletion of the asset reserves and elimination of payroll taxes. If this hypothetical legislation were enacted, with no alternative source of revenue to replace the elimination of payroll taxes on earned income paid on January 1, 2021 and thereafter, we estimate that DI Trust Fund asset reserves would become permanently depleted in about the middle of calendar year 2021, with no ability to pay DI benefits thereafter. We estimate that OASI Trust Fund reserves would become permanently depleted by the middle of calendar year 2023, with no ability to pay OASI benefits thereafter..That's the case for Ninon Ruscher and her husband John of Tuscon, Arizona, who rely on Social Security for all of their income. Mrs. Ruscher says that, "seniors who rent their own homes are in a precarious financial situation." "Once we pay the monthly bills, we sit at home. We don't have the money to do anything or go anywhere. Once the food runs out we have to wait until our next Social Security payment," she adds. Mrs. Ruscher notes that even though her husband receives health benefits through the Veterans Administration, and she's enrolled in a Medicare Advantage plan, they are still trying to pay off expenses from her recent surgery earlier this year. … Continued

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