This week, two new cosponsors Reps. David Cicilline and Steve Cohen signed on to the SAVE Benefits Act, which was recently introduced by Rep. Alan Grayson in the House. If signed into law, the bill would give Social Security beneficiaries a 3.9 percent COLA next year instead of the zero COLA they are expected to receive. It would cover the cost of the emergency COLA and extend the solvency of the Trust Funds by closing a loophole that allows corporations to deduct bonuses for CEOs from their taxes..The Senior Citizens League appreciates the hard work and leadership of Chairman Collins on this important issue, and we hope to see the BOLD Act signed into law before the end of this year. For more information, visit the Bill Tracking section of our website..This week, the Social Security and Medicare Trustees released their annual reports on the financial health of the programs. In addition, Senator David Vitter's Notch Fairness Act and Representative Buck McKeon's Social Security Fairness Act each gained one new cosponsor..How do they claim benefits if the law prohibits illegals from collecting?.TSCL continues to work for the passage of Notch Reform legislation. Recently Representative Jo Ann Emerson, a stalwart Notch Reform advocate, re-introduced the Notch Baby Act of 201The legislation would provide additional benefit increases for Notch Baby beneficiaries who first became eligible for benefits, at age 62, from 1979 through 1988..Despite resistance from some lawmakers, appropriators in the House and Senate say that their work on the "cromnibus" is continuing. According to Harold Rogers, Chairman of the House Appropriations Committee, negotiations are "on schedule," and the bill should come to the floor by early next week. If it fails to get the necessary votes, lawmakers will likely adopt a continuing resolution to provide the government with short-term funding. At this point, leaders are saying that a government shutdown is not something that they're willing to consider..It's hard to know because no official government estimates seem to exist. Just how do illegal workers wind up on Social Security rolls? In order to get jobs they often provide employers with invalid, fake, or even stolen Social Security numbers. Employers withhold payroll taxes as required by law and wage reports are sent in to the Social Security Administration. If the name and Social Security number reported by employers doesn't match those in the SSA's records, the "mismatched reports are placed in an "Earnings Suspense File..TSCL strongly believes that inaction on addressing Social Security's financing challenges is putting the benefits of tens of millions at risk. The closer we come to the Social Security depletion dates, the more difficult it will be to find a solution to strengthen program finances. With the coronavirus recession, the depletion date may arrive sooner than anyone ever expected..State and local property taxes up to ,000.

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Osterholm added that "vaccines will not become available in any meaningful way until early to third quarter of next year.".Based on consumer price index data through May of this year, TSCL's Social Security policy analyst and study author, Mary Johnson, estimates that the COLA for 2018 may indeed be significantly higher than in recent years - around 1.9% - 2.1% - but that could change since there are still several months to go before the COLA is announced in October.."New survey data from the Centers for Medicare & Medicaid Services found 21% of beneficiaries reported forgoing health care due to the pandemic, while 46% reported feeling more stressed and anxious. … Continued

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Buying a car is fraught with pitfalls where anyone must tread carefully and thoroughly sleuth out hidden mechanical and financial defects. Indeed, it sounds as though your brother has been taken for a ride by a predatory auto loan. According to information found an organization that provides help and information about loans and managing debt - predatory lending is any lending practice that convinces a borrower to accept unfair terms through deceptive, coercive, exploitative or unscrupulous actions for a loan that the borrower doesn't need, doesn't want, or can't afford. In recent years, such sub-prime auto loans have soared, and now state and federal agencies are starting to look into some big name lenders who cater to people with less-than-perfect credit records..A ,000 per month budget for medical expenses is a staggering amount to consider. Retirees with the highest costs are not only those with multiple health conditions, but also frequently those who don't have access to employer provided health insurance benefits. This group also includes those who don't have access to competitively priced Medicare Advantage Plans, and therefore pay higher premium costs for Medigap and Part D plans..In addition, one new cosponsor Rep. Marcia Fudge signed on to the Social Security Fairness Act, bringing the total up to one hundred and twenty-one. If signed into law, the Social Security Fairness Act would repeal the Government Pension Offset and the Windfall Elimination Provision two federal provisions that unfairly reduce the earned Social Security benefits of millions of teachers, fire fighters, peace officers, and other state or local government employees each year. … Continued

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