"But there's still time for Congress to pass legislation to provide an emergency COLA," says Cates. TSCL strongly supports legislation that would provide 70 million Americans with a one-time emergency COLA payment of 3.9%. The Seniors and Veterans Emergency Benefits Act was introduced last fall by Senator Elizabeth Warren, and a companion bill was introduced in the House by Representative Tammy Duckworth..The CBO estimated last November that if lawmakers wished to raise the amount of covered earnings subject to the payroll tax to 90 percent of covered earnings, then the taxable maximum would need to be set at 6,400 in 2017 and to rise to 5,000 by 202"Legislation was introduced in December that would impose deep benefit cuts," Johnson notes, "but had no provisions to provide new revenues. " "Lifting the taxable maximum cap would provide new revenues to Social Security and it could also provide a modest boost to Social Security benefits, and more adequate COLAs to all people when they retire," Johnson points out. "Our lawmakers should not be allowed to hide this option under the rug," she says. "Raising the payroll taxable maximum is the means of providing greater retirement security and long - term program solvency, " Johnson says. "We can save Social Security without the deep cuts.".Social Security beneficiaries received a 2.8% cost-of-living adjustment this year, but millions of older Americans with low benefits have seen their increases completely offset by higher Medicare Part B premiums. Do you support the Fair COLA for Seniors Act, which would give beneficiaries a more adequate Social Security COLA?.This week, one new cosponsor Rep. Dennis Ross signed on to Rep. Ron Paul's Social Security Preservation Act. The cosponsor total is now up to eleven..A third option was introduced by Senator Rand Paul in June. His plan would repeal the SGR and base payments on the same formula that is used to calculate cost-of-living adjustments for Social Security benefits. It would cap annual pay increases for providers at three percent, allowing physicians to practice without the threat of annual reimbursement cuts..In a separate report, the CDC responded to concerns about deaths being misattributed to Coved-1The agency took a close look at death certificates, finding that most that listed Covid-19 also named other contributing problems. They included conditions such as diabetes, known to increase the danger of severe disease, or conditions such as pneumonia that occurred in the chain of events leading to the deaths..Adjuvanted Flu Vaccine.The Social Security Trust Fund is the single largest holder of U.S. debt. In the past, when more payroll taxes were received than required to pay benefits, the surplus was by law, used for other purposes. The federal government accounted for borrowing the funds by issuing I.O.Us from the U.S. Treasury to Social Security or Medicare Trust Funds. In recent years, the program's financing reversed and now both Social Security and Medicare Trust Funds are paying out more in benefits than money coming in. Both now rely on drawing down the interest and then the I.O.Us. But when the rest of the federal budget is in deficit, the government must borrow to pay Social Security and Medicare benefits. And according to a growing number of economists, those borrowing days are numbered..According to an article they wrote in The Hill, "Ten thousand Americans turn 65 every day, which means the number of Medicare beneficiaries who need easy access to vaccines is constantly increasing. Vaccines are particularly important for older adults because our immune systems weaken with time. Adults age 50 and over are particularly susceptible to many vaccine-preventable diseases and account for a disproportionate number of the deaths and illnesses they cause. This is why older adults are most at risk of developing severe illness from coronavirus.

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"The Senior Citizens League Fears New Immigration Policy Eases Way To Social Security for Some".The receipt for the original purchase with the questioned charge, or if you used a credit card, a copy of the credit card statement..Social Security beneficiaries receive a small automatic increase in their Social Security checks most years, intended to help their benefits keep up with rising costs. But since 2000, COLAs increased benefits a total of just 43 percent while typical senior expenses have jumped 86%. When costs climb more rapidly than benefits, retirees must spend down retirement savings more quickly than expected, and those without savings or other retirement income are either going into debt, or going without. … Continued

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During the debate over the debt limit, you undoubtedly heard the President try to scare you into believing Social Security checks would not come. Let me be blunt. The federal government takes in nearly seven times more than it needs every month to pay Social Security checks. The money was there. If checks didn't come, it would have been because the President had chosen not to pay them. You did not read that wrong. If you had not received your Social Security payment, it was because the President has directed the Secretary of the Treasury not to pay it..Also, in the days leading up to the election many candidates will make appearances at local events, giving concerned voters an excellent opportunity to have their questions addressed. We encourage you to approach your Senators, Representatives, and candidates to request their support for fair cost-of-living adjustments and other key issues affecting seniors..COLAs act much like interest rates on savings. Low COLAs mean Social Security benefits grow more slowly in retirement. This occurs even though many costs experienced by retirees, such out - of - pocket spending on prescription drugs - may grow several times as fast. "People who have been retired for 10 years or longer have absorbed the full financial blow of low COLAs," Johnson says. Johnson's analysis found that, over a ten - year period, average Social Security benefits of ,075 per month in 2009 lost a total of ,258 in financial growth from 2010 to 2019 when compared to the previous decade when COLAs averaged 3 percent. By the end of that 10 year period, average benefits were 3 per month lower than they would have been had inflation averaged the more typical 3 percent. … Continued

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