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To learn how much the COLA cuts would cost you, try TSCL's "chained" COLA calculator..May 15, 2013 Seniors have lost almost one-third of their buying power since 2000, according to the Annual Survey of Senior Costs, released today by The Senior Citizens League. TSCL is one of the nation's largest nonpartisan senior advocacy groups..He had demanded a payroll tax cut previously this year. Thankfully, Congress did not go along with him when it passed the previous legislation meant to deal with the coronavirus pandemic and the ailing economy that resulted..The coronavirus emergency spending bill that Congress just passed was not "paid for," in Washington's language. It was added to the deficit, which means the government will borrow the money to pay for it..For information on upcoming town hall meetings, click HERE. For updates on the progress of the BCRA in the coming days, follow TSCL on Twitter or visit the Legislative News section of our website..If you own a pet and have been to the vet lately, the bill may have taken a big bite out of your budget. Like human healthcare, the cost of vet services is growing several times faster than inflation. But unlike human healthcare, the cost of vet services has been growing even faster than the cost of medical services from your doctor 68% faster in 2013 alone. And although you may have Medicare or some other type of health insurance for yourself, chances are you don't have health insurance for your pet meaning you foot 100% of the vet bills..Here are some tips to help you budget:.table-1.This year, for the first time in decades, "expanding" Social Security became the platform of a major political party - the Democrats - while both presidential candidates, Clinton and Trump, expressed opposition to any benefit cuts. And lending credibility to the claims, legislation is pending in both the Senate and the House that would provide a boost to Social Security benefits and use a "seniors" CPI, the Consumer Price Index for the Elderly, to determine the annual cost-of-living adjustment. The legislation would finance doing this by lifting the payroll taxable maximum - which is currently capped in 2016 at the first 8,500 in earnings.

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McCaskill compared such pharmaceutical industry's activities to those of Congressional lobbyists, and argued that doctors, like politicians, must be required to publicly disclose any gift they receive..This week, Senator John McCain introduced the Safe and Affordable Drugs from Canada Act, which would allow individuals to import prescription drugs from approved pharmacies in Canada. Upon introducing the bill, Senator McCain stated: "This legislation would allow individuals to safely import prescription drugs into the United States from our neighbors to the north, spur much-needed competition in the pharmaceutical market, and save individual Americans up to hundreds of dollars a year." TSCL supports S. 122 enthusiastically, and we look forward to helping build support for it this year..A tax reform plan being floated by the House GOP would meet strong opposition from activists and older voters, warns The Senior Citizens League. The plan would end the 12.4 percent payroll tax that funds the monthly checks of about 60 million current Social Security beneficiaries. "This proposal would sabotage Social Security for both current and future Social Security recipients," warns Mary Johnson, Social Security policy analyst for TSCL. … Continued

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Congress passed legislation to end the practice at the end of the year, but as with so much other legislation Congress passes, it gave an outline of new policy but it left a great deal up to the President to work out the specifics..Trustees tend to report the financial condition of the combined Social Security Trust Funds, including the one that pays retirement benefits, as solvent until 203But there are actually two separate Trust Funds with separate accounting. One Trust Fund cannot borrow or receive reallocated payroll taxes from the other without legislative action from Congress - a short - term fix that Congress has relied on 11 times in the past..But the transitional formula failed, and in most cases, the new benefit formula abruptly kicked in. Extreme inflation that climbed to 14.3% in 1980 magnified the disparities. When the benefits are illustrated on a bar graph, they show a deep "V" Notch. … Continued