State Legislatures Magazine Glenn Koepp Louisiana S Redistricting Expert Dies At 76 Magazine2021Then, in September, our entire country was appalled when a 32-year-old former hedge fund manager, Martin Shkreli, jacked up the price of Daraprim - a drug used to treat a life-threatening parasitic infection in people with suppressed immune systems like cancer patients and people with HIV/AIDS - from .50 per tablet to 0, overnight..Unfortunately, the two other changes that took effect last month will not affect seniors as positively. Young retirees will be hit with an increase in the threshold for the itemized deductions of medical expenses. Those under the age of sixty-five will not be able to deduct unreimbursed medical expenses unless they account for at least 10 percent of adjusted gross income. Those over the age of sixty-five may continue using the 7.5 percent threshold until 2017; however, all seniors should beware that this tax provision may be modified or even eliminated as lawmakers continue to search for ways to reduce the deficit..When Medicare solvency is under discussion, the focus is often placed on the Medicare Part A Trust Fund, which is primarily financed by payroll taxes. The last time Medicare Part A Trust Fund was forecast to become insolvent was in 200That year, the Medicare Trust Fund was forecast to become insolvent by 201In 2010, Congress enacted the Affordable Care Act which changed Medicare revenues in two ways. It added an additional payroll tax of 0.9% to the 1.45% of Medicare taxes paid by high earning individuals with wages over 0,000. A second provision affecting individuals with this level of income, imposed a new 3.8% tax on a portion of net investment income. Estates and trusts can also be subject to this tax. … Continued
Blog Ncsl Past President Testifies On Wayfair Decision Before CongressAmong the documents released to TSCL was a statement by Secretary of State, Condoleezza Rice, that says, "Social Security actuaries have estimated that a Totalization Agreement with Mexico would have negligible long-range costs for the Social Security Trust FundsЕ Costs to the U.S. Social Security system are estimated to average about 0 million per year over the first five years.".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. For information on upcoming town hall meetings near you, click HERE..Unfortunately, many Subcommittee Members seemed to agree with Rep. Burgess, who plans to introduce legislation that would provide a one-year pay patch for Medicare physicians. TSCL hopes that Congress will continue to work toward a permanent solution, and we will continue to monitor the SGR discussion in the coming months. … Continued