Topic Private InsuranceThis week, TSCL announced its support for the Seniors and Veterans Emergency Benefits Act, which was introduced by Congressman Alan Grayson as a companion bill to Senator Elizabeth Warren's S. 2251..Immigration Bill Approved by Senate Committee.Lawmakers in Washington had mixed reactions to Judge Hanen's injunction. Senate Majority Whip John Cornyn said, "Today's victory is an important one, but the fight to reverse the President's unconstitutional overreach is not over. The President must respect the rule of law and fully obey the court's ruling." Meanwhile, Representative Luis Gutierrez called the injunction a simple "bump in the road." He stated: "The administration intends to take this to the highest court in the nation, where we know justice and fairness will prevail on this executive order." … Continued
Education Education Bill Tracking And DatabasesTSCL is highly concerned about the Totalization Agreement since it would likely add billions in costs to Social Security and drain Social Security benefits from American citizens who retire in the future. The Agreement would also increase exponentially the number of foreign workers claiming Social Security benefits. Social Security law currently allows non-citizens, who at some point obtain work authorization and a valid Social Security number, to claim benefits. Under current policy, Social Security uses all earnings regardless of a workers' legal status at the time the work was performed, to determine entitlement to benefits - including earnings while working illegally in the U.S. Such work could have been done while using an invalid or even fraudulent Social Security number. Several Members of Congress have introduced legislation that would prevent the Totalization Agreement from moving forward and that would give Congress more oversight over Totalization agreements with other nations. In addition, anti-Totalization legislation opposes Social Security benefits going to those who worked in the United States while illegal..In a letter that was sent to the twenty-nine conferees on Monday, members of the House Appropriations Committee wrote: "We call on the Budget conference to reach an agreement on the FY2014 and FY2015 spending caps as soon as possible to allow the appropriations process to move forward … If a timely agreement is not reached, the likely alternatives could have extremely damaging repercussions." According to the appropriators, the alternatives include: a government shutdown on January 15th, continued governance by continuing resolution, and a second round of across-the-board spending cuts via the "sequester," which is scheduled to hit in January..Second, every two years, the Taskforce will submit a report to Congress outlining trends and innovations that are impacting the investment for senior investors. This will keep a cop on the beat to make sure we keep up with changes in financial scams. The report will also include recommendations for changes to rules of the SEC or other organizations, and any legislative actions needed to resolve senior investors' problems. … Continued
