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In addition, one new cosponsor Rep. Marcy Kaptur signed on to Rep. Peter DeFazio's No Loopholes in Social Security Taxes Act, bringing the total to twenty-eight. Rep. DeFazio's bill would subject all income over 0,000 to the Social Security payroll tax, reportedly adding another fifty years to the solvency of the Trust Fund. Currently, the payroll tax is capped at 3,700, and no income over that amount is taxed..Leadership Elections Kick Off "Lame Duck" Session."Medicare, the federal health insurance program that covers Americans over 65, is facing an impossible dilemmShould it cover a new and expensive medication for Alzheimer's disease, which afflicts 6 million Americans and for which there is no existing treatment, even though the drug might not actually work?".Even though all federal government buildings are now air conditioned, Congress has continued with that tradition..The period covered by the Notch is a major area of dispute. When benefits are represented on a chart, the disparity forms a deep "V" notch. Benefits plunged from a peak for retirees born in 1916 and hit the lowest part of the "V" for those who were born in the years 1920-2Benefits began to rise for those born in 1922 until they became level with other retirees, starting with those born in 192See illustration below..Some home healthcare can be deductible. In order for home healthcare expenses to be deductible, those who require the care must be unable to perform two or more of six activities of daily living and have a plan of care from a physician that specifies help with these tasks..For more progress updates or for more information about these issues, and other bills that would strengthen the Social Security program and make improvements to Medicare, visit the Bill Tracking section of our website or follow TSCL on Twitter..They have already spent heavily on lobbying and are expected to soon intensify their efforts, and TSCL's concern is that the new protections could be watered down during the rulemaking process and leave consumers still vulnerable to unexpectedly large bills..With regard to your specific concerns on Social Security COLAs, as you are fully aware, after a person becomes entitled to receive Social Security benefits, his or her monthly benefit was designed to increase annually to maintain purchasing power over time. The amount of the COLA is based on inflation as measured by the Consumer Price Index. If the CPI rises, Social Security benefits for the next year increase proportionately. If the CPI falls, Social Security benefits stay the same. Like you, I too have long been critical of this formula that measures the level of inflation in our economy because older Americans have different needs than the "typical" American. In addition, the current CPI fails to adequately reflect the fact that seniors rely more on medical goods and services, which have a much higher inflation rate.

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Members named to Congressional Conference Committee.Some home healthcare can be deductible. In order for home healthcare expenses to be deductible, those who require the care must be unable to perform two or more of six activities of daily living and have a plan of care from a physician that specifies help with these tasks..The flowerpots aren't watered. … Continued

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The Social Security Trust Fund is the single largest holder of U.S. debt. In the past, when more payroll taxes were received than required to pay benefits, the surplus was by law, used for other purposes. The federal government accounted for borrowing the funds by issuing I.O.Us from the U.S. Treasury to Social Security or Medicare Trust Funds. In recent years, the program's financing reversed and now both Social Security and Medicare Trust Funds are paying out more in benefits than money coming in. Both now rely on drawing down the interest and then the I.O.Us. But when the rest of the federal budget is in deficit, the government must borrow to pay Social Security and Medicare benefits. And according to a growing number of economists, those borrowing days are numbered..It's clear we need to take action to protect Medicare for future generations and safeguard it against those who want to turn it into a coupon-style voucher system. For over half a century, Medicare has guaranteed older Americans' access to health care, and most seniors don't want to see something so essential endangered or gutted. But here's some good news: There are steps we can take to put Medicare on sure financial footing and build upon it to improve insurance coverage and affordability for older Americans not yet on Medicare..While neither platform outlines a comprehensive path forward for Social Security, they do offer two dramatically different stances on the program's future. The Democrats adopted a platform that prioritizes an expansion of Social Security, while the Republicans committed to reforming the program in a way that improves the program's financial outlook without using revenue increases to do so. … Continued

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