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Many of you agree with Joe. About 74% of survey participants in TSCL's Senior Survey support applying the 12.4% Social Security payroll tax to all wages above the annual maximum which is 2,900 in 201This one fix alone is estimated to close roughly three - quarters of the Social Security financing gap. Let's ask our Members of Congress to get on board. Read more about sustainable solvency for Social Security in our latest Benefit Bulletin, "Social Security Legislation Would Provide 75 Years of Solvency To Social Security.".Medicare Part B premiums are forecast to soar an astonishing 22.3% for an estimated 16 million Medicare beneficiaries in 2017 - the biggest such jump in nearly three decades. The anticipated spike in monthly premiums, from 1.80 to an estimated 9.00 per month in 2017, is primarily due to the effects of an extremely low inflation that's expected to hit retirees again next year. Medicare Trustees believe that the annual Social Security cost-of-living adjustment for 2017 will be insufficient to cover the amount of the Medicare Part B premium increase for the majority of Medicare beneficiaries. That would trigger a special "hold harmless" provision of law..Representative Peter DeFazio.A common debate is re-emerging this year over Social Security's "deficit, " as the federal borrowing limit looms. The debt limit, which was suspended since late 2015, was re-instated on March 16th. That debt limit sets the money the Treasury can borrow to pay for federal obligations, including money owed to the Social Security Trust Fund..Dr. Redfield also told Congress this week that the CDC is developing a test that can check for seasonal influenza and COVID-19 infections at the same time..As things are scheduled for now, the Senate will return to the Capitol on Sept. In the meantime, it will be in a "pro-forma session." That happens in the Senate at a time during which no legislative business is conducted. The sessions are held to satisfy a provision of the Constitution that prohibits either chamber from adjourning for more than three days without the permission of the other chamber. When the House or Senate recesses or adjourns for more than three days, both chambers adopt concurrent resolutions providing for the recess or adjournment..August Recess Continues for House Lawmakers.Action from Congress is needed to address Social Security's looming shortfall. Without it, the Social Security Trust Fund is estimated to run short by 203Should that occur, benefits would be reduced by about 22% to match the level of payroll taxes coming in..Last week Politico.com reported that major legislation meant to lower prescription drug prices has run into unexpected trouble in the House of Representatives.