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TSCL is working with Members of Congress for the "Guaranteed 3% COLA for Seniors Act, introduced by Representative Eliot Engel. The bill directs the Bureau of Labor Statistics to prepare and publish a monthly CPI-E and uses it to calculate the annual Social Security COLA. And in the case when inflation is low, the bill would provide an annual COLA of at least 3%..While the majority of workers pay Social Security on 100% of their earnings, people who earn the most, more than 8,500 a year, pay NOTHING on earnings over that amount..The Social Security 2100 Act would strengthen the program's financing by:.Before making such a major decision, we strongly recommend that you get free, one-on-one counseling from your State Health Insurance Program Medicare Counselor. Your counselor can help you compare plans to ensure that the choice you're considering is right for you. Many local area agencies on aging or senior centers host counseling programs..Big Pharma, the lobby of the big drug companies, criticized the order right away and said the move was "a reckless distraction that impedes our ability to respond to the current pandemic and those we could face in the future.".On Wednesday, the Social Security and Medicare Trustees released their annual reports on the financial outlook of both programs. As expected, they found that Social Security and Medicare are experiencing long-term financing shortfalls. Social Security's combined trust funds are expected to be depleted in 2034, which remains unchanged from last year's report. Medicare's Hospital Insurance trust fund is expected to be depleted in 2028 two years earlier than the trustees projected last year..By Representative Rodney Davis.In September of last year Sen. Joni Ernst talked about the need to go "behind closed doors" to reform Social Security, presumably because the American public won't stand for it being done in the open. There was more a year earlier from Majority Leader McConnell when he labeled Social Security, Medicare and Medicaid - so-called entitlements - "the real drivers of the debt" and called for them to be adjusted "to the demographics of the future.".–A majority of older voters think Social Security should be strengthened, but are opposed to cutting benefits, says a national survey by The Senior Citizens League. The new national survey found that older voters favor some changes that provide the program with more revenue, and provide retirees with modestly higher benefits in the future. According to TSCL's 2016 Senior Survey, 71 percent of older voters think Social Security should be expanded to provide modestly higher retirement benefits and more fair cost of living adjustments. An analysis for TSCL estimates that if COLAs were indexed using a "senior" consumer price index - the government's Consumer Price Index for the Elderly - Social Security recipients would receive a 1.3 percent increase instead of an estimated 0.2 percent COLA in 2017.