A controversial "Medicare" tax on net investment income that was signed into law shortly after passage of the 2010 Affordable Care Act is expected to once again come under debate according to The Senior Citizens League. "During the battle over The Affordable Care Act, a new source of funding - a 3.8% Medicare Net Investment tax was enacted - presumably as means to strengthen Medicare funding," says Mary Johnson, a Medicare policy analyst for The Senior Citizens League. "But the truth is those revenues, which the Joint Committee on Taxation estimates to be .5 billion for 2021, never actually made it into the Medicare Part A Trust Fund," she says.".If the Social Security cost-of-living adjustment were based on a more accurate measure of inflation for seniors, beneficiaries would not be receiving a record-low 0.3% increase this year. They would be receiving an increase of 2.1% according to the Bureau of Labor Statistics. Do you support legislation that would base the COLA on a more accurate inflation index like the Consumer Price Index for the Elderly?.Despite the continued standoff on Capitol Hill, Social Security and Medicare beneficiaries should rest assured that their benefits will not be impacted by the ongoing shutdown. Both Social Security and Medicare are "mandatory" programs, which means that benefits will go out in full and as scheduled regardless of the federal government's operating status. In addition, the administrative offices for both programs are fully funded and are currently operating normally, so those applying for benefits should not see any delays in their requests..According to The Social Security Trustees, the Disability Insurance Trust Fund is expected to become fully insolvent by the end of next year. Without Congressional action, Social Security trustees estimate there won't be enough tax revenues to pay full scheduled disability program benefits at the end of 201More than 10 million disabled beneficiaries and their dependents face cuts of about 19% in their monthly payments if nothing is done..TSCL is continuing to meet with lawmakers and deliver your petitions calling for a fair COLA. To send an email to your member of Congress now!.In addition, Wall Street analysts were skeptical that the orders would have much effect on drug makers and said they could prove difficult to implement in practice..For each of the reasons above, TSCL sincerely hopes that Congress will allow the Social Security payroll tax cut to expire at the end of this year. Extending it for a third time would be irresponsible, and we fear that it could jeopardize the program's ability to fully pay Social Security benefits in the future. To learn more about the tax cut and other issues affecting Social Security, visit our website.."Social Security Sees Slowdown in Retiree Rolls Amid COVID Deaths," Alexandre Tanzi, Bloomberg News, May 3, 202"U.S. Life Expectancy Drops A Year In Pandemic, Most Since WWII," Marilynn Marchione, Associated Press, February 17, 2021..Even President Trump said this about his own party: "Every Republican wants to do a big number on Social Security," he said in one appearance. "They want to do it on Medicare, they want to do it on Medicaid.

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New Medicare enrollees..Conservatives and budget hawks have long sought to roll back large government programs like Medicare and Medicaid to rein in the debt..Highlights of this week in Congress include: fallout from the Super Committee's indecision; leadership changes at the Center for Medicare and Medicaid Services; and a new co-sponsor added to a key bill. … Continued

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Starting benefits prior to full retirement age means you receive benefits over a longer period of time, but the amount you get will be reduced, perhaps significantly. Delaying the start of your benefits until after your full retirement age of 67, until age 70 means a bigger check but paid out over a shorter period of time..On Wednesday, the Board of Trustees hosted a successful breakfast reception for all Members of the 113th Congress and their staff, along with Shannon Benton, former Congressman David Funderburk and Mrs. Betty Funderburk, and TSCL's staff. More than 125 Members of Congress and/or staff were in attendance, and we were pleased to have the chance to speak with them about the issues that matter most to TSCL's members and supporters. We especially want to thank Rep. Nick Rahall, who has been a regular attendee at TSCL's receptions..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. … Continued

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