Second, the federal government cannot afford the tax cut, which costs more than 5 billion annually. It is no secret that our nation is deep in debt, and the two-year, two percent tax holiday has not spurred the economy as many hoped it would. TSCL fears that, because of its economic constraints, the federal government's general revenues may not be a reliable source of funding for Social Security. The program is currently facing a billion cash-flow deficit, and an extension of the tax holiday could exacerbate its funding shortfall..The opinions expressed in "Congressional Corner" reflect the views of the writer and are not necessarily those of TSCL..The plans also reduce spending on premiums, because they eliminate the need for supplemental insurance. While the majority of Medicare beneficiaries still receive their Medicare benefits through traditional Medicare, many also purchase a Medicare supplement or "Medigap" policy to cover the considerable amount of out-of-pocket spending that Medicare alone does not cover, and a free-standing Part D drug plan..August Recess Continues for House Lawmakers.Refinance and renovate. If you find your current mortgage payment is too high, refinancing to get either a lower monthly payment or to take cash out may be an option. Before you refinance, have a long–term repayment plan, a budget, and you may want to discuss your needs with an independent financial advisor. If you are refinancing to renovate an older home, think long and hard about how much longer you plan to stay in your home, and how well your current housing will serve you as your health changes. Get bids from contractors, and be sure to include costs for new appliances, carpets, and fixtures. Will you have sufficient income and savings to cover a mortgage payment and still have money for repairs and maintenance ten or twenty years from now? Can you recover your renovation investment if you have to move and sell sooner than you planned? Take time to shop and carefully compare terms on loans - don't be hurried into making a decision. Loan officers always push you to "lock in a rate." Always ask for a "good faith" estimate and an estimate of the closing costs..in retirement. Strengthen your finances in retirement by developing additional.The chairman of the House Energy and Commerce Committee, Frank Pallone, Jr. has been working with the top Republican on that committee, Greg Walden of Oregon, on what measures need to be included in the next coronavirus bill. Walden is pushing for a surprise billing measure to be in the bill, but Pallone has yet to commit to it..The Senior Citizens League supports proposals that strengthens Medicare for dental, vision and audio services, and cuts prescription drug costs by allowing Medicare to negotiate prices. To learn more visit:..Leaders in Congress seem optimistic that they will reach a deal in the coming days. In a brief with the Republican Conference on Thursday morning, House Speaker Paul Ryan said, "I believe we will successfully complete the negotiations. We're not going to rush it. We're going to get it right."
