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Lower than expected payroll tax revenues. Payroll taxes account for roughly 89% of Social Security's financing. But in 2020, businesses nationwide temporarily shuttered due to emergency stay at home orders. In addition, widespread layoffs, reductions in work hours, and job losses resulted in the collection of fewer payroll tax revenues. Emergency legislation that was passed last year allowed employers to even temporarily defer payment of Social Security payroll taxes until December of 2022 to help companies shore up cash flow and stay in business. While the job market is getting back on its feet again in 2021, unemployment is still higher than it was prior to the pandemic, and payroll tax revenue has not yet returned to pre-pandemic levels..PBMs continue to leave American consumers and pharmacists in the dark about how their operations could be contributing to high prices. But to begin shedding light on the black box of prescription drug negotiations, I introduced the Public Disclosure of Drug Discounts Act. My legislation would require PBMs to publicly report their aggregate rebates, discounts, and other price concessions. Getting this information is a first step towards tackling the high cost of prescription drugs..Legislation that would boost Social Security benefits and restore Social Security's solvency has been under debate this fall in the U.S. House. The Social Security 2100 Act, introduced by Representative John Larson in the House, and introduced by Senator Richard Blumenthal, have strong grass roots support from older Americans. While the House bill is advancing - we are steeling for a tough challenge in the Senate..A new bill was introduced in the Senate this week that would lower costs for Americans with diabetes and other chronic diseases who have high-deductible health plans. This legislation would not affect seniors who are covered by Medicare, but it could be very helpful for seniors who are under 65 and still working and who only have high-deductible health insurance. Authored by Sens. John Thune and Tom Carper, the bill, called the Chronic Disease Management Act, would lower health care costs by allowing high-deductible health plans to provide chronic disease prevention services - including insulin for diabetes - to plan enrollees before they reach their plan deductible..Stay Informed and Sign up for the TSCL Newsletter.Medicare Part B premiums were found to be the fastest growing cost for seniors, increasing by 195 percent over the eighteen-year period. Average out-of-pocket spending on prescription drugs followed closely behind, increasing by 188 percent. Meanwhile, between 2000 and 2018 the COLA increased Social Security benefits by only 46 percent..[i] Social Security Disability Insurance Trust Fund: Background and Solvency Issues, William R. Morton, Congressional Research Service, November 20, 2-13, R43318.."How Republicans' Brilliant Budget Tactic Backfired," Eric Pianin, The Fiscal Times, May 28, 2013..When food and other important costs rise faster than the Social Security COLA, that means that retirees aren't able to purchase as much with their benefits. This can lead to older consumers going without essentials. Research by Johnson has found that Social Security benefits have lost 30% of buying power since 2000. "We encourage everyone to consider who you may know that might need help with food costs," Johnson says "Perhaps you can drop off a few groceries, or share your next batch of home - made soups, chili, or stews with others you know," Johnson adds. "Mercifully, this list of prices will likely change in time, especially as we get COVID-19 under control and people return to work," Johnson says.