Sen. Mark Begich introduced S. 308 on February 13, 201It has since been referred to the Committee on Finance..Two Ways and Means Subcommittees held hearings on reforming Medicare and Social Security this week. On Tuesday, the Health Subcommittee heard from a panel of experts on Medicare reform, and on Thursday, the Social Security Subcommittee met to discuss potential changes to the program..Despite the House passing a trillion coronavirus relief bill last month, Senate Majority Leader Mitch McConnell has not scheduled a vote on a Senate relief package before July Instead, Republicans will focus on the National Defense Authorization Act, the Great American Outdoors Act and the confirmation of circuit court and other nominees this month..The 1977 benefit formula changes affected workers who turned 62 and became eligible for benefits just two years later, in 1979 and thereafter. To protect people close to retirement from abrupt benefit cuts, and to phase in the benefit reductions, a 5-year transitional formula was provided affecting people born from 1917 through 192That group had their benefits figured two different ways using both the transitional benefit formula, and the new benefit formula. People received the higher of the two benefits..The flowerpots aren't watered..This week, lawmakers in the Senate voted on three health reform bills that would have repealed and replaced parts of the ACA if enacted. All three of the bills the Better Care Reconciliation Act, the Obamacare Repeal and Reconciliation Act, and the Health Care Freedom Act better known as the "skinny repeal" bill failed to win passage on the Senate floor..TSCL believes that legislative changes that would switch to the chained CPI and cut COLAs will be a key feature of deficit reduction talks and plans that become public after the November elections. You can help! Sign TSCL's Social Security Fairness Petition online or call to have a petition mailed to you..For information about town hall meetings near you during the final days of the spring recess, call the local offices of your elected officials. You can find contact information for your Members of Congress right here.."People who have been receiving benefits for 12 years or longer have experienced an unprecedented series of extremely low cost-of-living adjustments," says Mary Johnson, a Social Security policy analyst for The Senior Citizens League. What's more those inflation adjustments do not account for rapidly rising Medicare Part B premiums that are increasing several times faster than the COLA. The situation is causing those with the lower Social Security benefits to see little growth in their net Social Security income after deduction of the Part B premium.
