If signed into law, the Protecting and Preserving Social Security Act would amend title II of the Social Security Act to calculate cost-of-living adjustments based on the Consumer Price Index for Elderly Consumers. It would also amend the Internal Revenue Code to gradually eliminate the cap on income subject to the payroll tax..By: Jessie Gibbons, Legislative Analyst.On Wednesday, the Ways and Means Social Security Subcommittee held a hearing titled "Lacking a Leader: Challenges Facing the SSA after over Five Years of Acting Commissioners." The Social Security Administration has been without a Senate-confirmed commissioner for over five years, which means it has not had a leader with the legal authority to make long-term decisions for the future of the agency..One of the first steps in bringing down prices is demanding transparency from the many players in the prescription drug supply chain. Many experts point to pharmacy benefit managers as potentially contributing to rising list prices and out-of-pocket costs. PBMs are the veritable middlemen of the drug industry - they serve as intermediaries between drug manufacturers, health insurers, and pharmacies. Some believe that, during this process, drug makers are forced to raise the list prices of their drugs just so they can offset the costs of rebates paid to these PBMs..The resolution outlines more than trillion in spending cuts, calls for a repeal of the Affordable Care Act, and asks the committees of jurisdiction to come up with more than 0 billion in Medicare savings. If fully implemented, it would balance the budget within a decade..That's correct, you can work while receiving a Social Security retirement, or survivors' benefit. The Social Security Administration even says it could eventually mean a higher benefit for you, but it could also mean that your Social Security benefits may be reduced - at least temporarily - when you earn more than the annual limit. In addition, your earnings may subject a portion of your Social Security benefits to taxation..Will current beneficiaries and those close to retirement - people age 55 and older - be protected from benefit cuts?.Changes are looming for Medicare and Social Security. Make your opinion count. Visit TSCL online at and take our monthly poll!.Do you see piles of mail and unopened bills? Your friend's mail may be a clue to how well she is managing her finances. Do you see unopened bills that have post- marks older than 30 days? Have you spotted letters from banks, creditors or insurers referring to overdrawn balances and missing payments?
