A major move is underway to reduce government spending on Social Security by cutting the growth rate in annual cost-of-living adjustments. What would it cost you? Here are answers to some of your most frequently asked questions:.Rep. Elijah Cummings introduced H.R. 3513 on September 10, 201It has since been referred to the Committee on Energy and Commerce and to the Committee on Ways and Means..With 1.2 million supporters, The Senior Citizens League is one of the nation's largest nonpartisan seniors groups. Located just outside Washington, D.C., its mission is to promote and assist members and supporters, to educate and alert senior citizens about their rights and freedoms as U.S. Citizens, and to protect and defend the benefits senior citizens have earned and paid for. The Senior Citizens League is a proud affiliate of The Retired Enlisted Association. Please visit or call for more information..'Let the Crime Spree Begin': How Fraud Flourishes In Medicare's Drug Plan, Tracy Weber and Charles Ornstein, ProPublica, December 19, 201Listen to this story on NPR..Heating and cooling: According to TSCL's Annual Survey of senior costs, residential fuel oil has been the fastest rising expense for more than a decade. According to the U.S. Energy Information Administration, a 250-gallon delivery of home heating oil this season may cost more than With the average monthly Social Security payment around ,100, that's a cost few seniors can afford and still have something left over for groceries. Take time to survey suppliers in your area and compare costs. Do ask for a senior citizen discount and learn the supplier's payment options. Financing your heating fuel through the supplier may give you smaller, more manageable payments, but you will pay financing fees and interest. With interest so low on savings, it sometimes makes sense to pay in full when you can to save financing charges..President Barak Obama included a proposal in his fiscal year 2014 budget that would have reduced Social Security benefits by using the more slowly-growing chained consumer price index to calculate the Social Security cost-of-living adjustment. An estimate produced for TSCL projects that "chaining the COLA" would cut Social Security benefits by about 9% over a 30-year retirement. Although the proposal has been under discussion for several years, it has not passed, primarily due to fierce resistance from older voters.."The Outlook for Major Federal Trust Funds: 2020 to 2030," Congressional Budget Office, September 2020.."How Republicans' Brilliant Budget Tactic Backfired," Eric Pianin, The Fiscal Times, May 28, 2013..The other alternative will be a "continuing resolution," know as a "CR," something that has happened so many times before in recent history when Congress has not been able to get its work done on time.

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The “Notch” refers to a disparity in benefits that resulted when.How Much Less Do Notch Babies Receive? Recently one of our readers asked “Is there a percentage as to how much less NOTCH BABIES receive monthly?“.TSCL believes that Social Security and Medicare remain at high risk of major changes that would cut benefits and continues to meet with Members of Congress and their staffs. The COLA is particularly vulnerable due to the size of the reduction in the deficit it would have - both by cutting federal spending and boosting tax revenue. The next election will be one of the most critical in years for both retirees and older Americans within ten years of retirement. TSCL urges you to ensure that you and your family are registered and ready to vote this November!.punitive tax penalty. … Continued

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According to TSCL's 2021 study of typical retiree costs, the average Medicare recipient can expect to spend more than ,000 per month on healthcare costs this year. Considering that the average retiree benefit is just ,550 per month, that doesn't leave much wiggle room for everything else in a year of spiraling inflation. Paying for food gasoline, or home and auto insurance is more challenging this year than it has been in 13 years..Ranking Member Senator Murray and several witnesses on Wednesday including Tennessee Health Commissioner Julie McPeak and Pennsylvania Secretary of Health and Human Services Theresa Miller agreed that CSR payments are critical to improving the marketplace and that vulnerable populations must continue to receive the same level of coverage through state waiver programs..delayed retirement credit which is 8.0% per year until age 70 (if you reached … Continued

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