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On August 15th, President Obama went on the record saying, "We should extend the payroll tax cut as soon as possible, so that workers have more money in their paychecks next year and businesses have more customers next year.".The resolution introduced by Rep. Rigell expresses a commitment to two critical issues facing seniors, and TSCL was pleased to lend its support to it this week..As with the start of any new Congress, TSCL is encouraging Senators and Representatives to reintroduce and cosponsor key legislation, like the Consumer Price Index for Elderly Consumers Act, the Notch Fairness Act, the No Social Security for Illegal Immigrants Act, and the Social Security Fairness Act. TSCL's legislative agenda for the next two years includes the following issues, among others:.2020 Social Security Trustees Report, April 22, 2020. "COVID-19 May Deplete Social Security Trust Funds This Decade," Nicko Gladstone, Shai Akabas, Bipartisan Policy Center, April 22, 2020..The amount you receive depends on your income and assets. If your income is on the higher end you still might qualify for partial Extra Help. Keep in mind that to receive the assistance you must first enroll in a drug plan AND the drugs you take must be listed on the plan's formulary..Advocates who help retirees enroll in these programs say that, even if your income is slightly above the eligibility limits, you might still qualify because certain types of income and assets may not be counted..Major Findings.Almost 70 percent of beneficiaries depend on Social Security for 50 percent or more of their income. Social Security is the sole source of income for 15 percent of beneficiaries..Another major piece of legislation that Congress is working on, one which has been passed and been signed into law by whomever has been President for the past 59 years, is the National Defense Authorization Act. As we explained last week, that's the annual bill that authorizes the pay for members of the U.S. military as well as other important issues dealing with the Department of Defense.

Blog Cultivating Credibility Lessons From Journalism

Under a restricted application, however, you could take just one or the other of the two benefits at 66, and then allow the other benefit to grow at 8% per year, until age 70. For example, depending on how much your own retirement benefit would be, you might file a restricted application for your own retirement benefit, and then let your larger spouse benefit grow to the maximum, switching to it at age 70. Or, if by allowing your own retirement benefit to grow would yield a higher benefit, you could instead file a restricted application for just the ex- spouse benefit at 66, and then switch to your own higher benefit at age 70. You will need professional help to make this determination. The extra money you receive using this strategy accumulates over a typical retirement, and can mean a significantly higher benefit when you are older and need it the most..Under current law noncitizens can file a claim for Social Security benefits if other qualifications are met. Currently Social Security counts all earnings toward Social Security entitlement, even for jobs worked while illegally present in the United States. Do you think any change is needed to this policy and if so what do you propose?.Proponents don't call it a cut. They say it's an "improvement" - and "a technical correction." They say that the change is needed because the CPI is inaccurate and doesn't reflect the effect on inflation when consumers substitute goods when prices change. Unlike our current method of measuring cost increases, chaining doesn't measure the actual change in the cost of goods from one month to the next. Instead, it attempts to measure how much people spend when prices go up. … Continued

Health Reform Press Release Study Finds Recent Slowdown In Health Spending Growth Mostly Tied To The Economy

Date Posted: January 2011.Will Social Security be adjusted to provide greater financial security, especially for lower-income beneficiaries?.In the coming days, TSCL will be keeping a very close eye on the movement of the omnibus spending bill. If lawmakers fail to reach an agreement before the December 11th deadline, the federal government will shut down once again, potentially impacting the timeliness of Social Security checks and reimbursements to doctors who treat Medicare patients. … Continued