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Starting January 1, 2014, all Americans are required to have health insurance. People who can afford it, but don't purchase health insurance by that date, may have to pay a fee, and must also pay the entire cost of all medical care they may later require. The fee in 2014 is 1% of your yearly income, or per person for the year, whichever is higher and that fee increases every year. By 2016, it is 2.5% of income, or 5 per person, whichever is higher..The president exercised special powers of the White House - instructions called "executive action" - that can have the binding force of law but do not require Congressional approval. While presidents in the past have exercised executive powers to make immigration changes, the sweeping scale of President Obama's actions far surpassed that of presidents before him. The actions come after Congress reached an impasse on passing immigration reform legislation last year..TSCL agrees that solvency issues for both programs should be addressed as soon as possible so that any changes may be phased in gradually. However, we do not support increased cost-shifting or harsh benefit cuts for seniors. Both Subcommittees will likely hold more hearings on reforming the two programs in the coming months. TSCL will continue to monitor the ongoing debate..This week, lawmakers continued working towards an omnibus spending bill to fund the federal government through the remainder of the fiscal year..Some lawmakers are advocating for paid leave legislation that would require new parents to trade their future Social Security retirement benefits for twelve weeks of parental leave. This would undermine the mission of the Social Security program, increase its insolvency, and permanently cut the retirement benefits of those who take paid leave. Do you think this is a responsible proposal?.This year's Trustees Reports show that both programs face modest financial challenges that can be addressed by Congress with minor reforms. The Senior Citizens League supports the passage of legislation like the Social Security 2100 Act or the Social Security Expansion Act, both of which would strengthen the Social Security program's finances responsibly, without cutting benefits for current or future retirees. In addition, we hope Congress will pass legislation to bring down prescription drug costs in the Medicare program. Requiring Part D drug price negotiation would save billions of dollars for both the federal government and Medicare beneficiaries..Forty-nine years ago, President Lyndon B. Johnson signed Medicare into law and by doing so made a solemn agreement with every single American. Simply put, if you work hard and play by the rules, Medicare will be there for you when you retire..By Representative Elijah E. Cummings.From a tax perspective, your distributions from a traditional IRA or 401 are 100% taxable, while distributions from a Roth IRA or 401 are not taxable. Up to 85% of Social Security benefits may be taxable but, for many people, the taxable percentage is much lower.