News

Does TSCL.Notch Bulletin: How Much Less Do Notch Babies Receive? Recently one of our readers asked “Is there a percentage as to how much less NOTCH BABIES receive monthly?” Although not many studies exist, according to one study of average earners born from 1917 through 1926, the disparity in benefits with other retirees seems to average about 26%..For the sixth consecutive year, Social Security beneficiaries will receive a cost-of-living adjustment that's a near-record low. Benefits will rise in January by a meager 1.7% after a 1.5% increase in 201In fact, inflation has been growing so slowly that the annual increase has averaged only 1.4% per year since 2010 - less than half the 3 percent average during the prior decade. In 2010 and 2011, benefits didn't increase at all, and a 1.7% increase next year won't pull up the five-year average..To read our full recommendations to Congress or for more information on the recent budget deal, visit our website at..I believe Social Security is a promise made to hard working Americans a promise that must be kept. We need to improve our economy to get folks back to work and paying into the program so our children and grandchildren have access to the same social safety net. I will work with my colleagues on both sides of the aisle to keep these promises made to seniors and it starts by passing H.R. 973..After weeks of debate by the House-Senate Conference Committee, President Obama signed the payroll tax holiday and temporary "doc fix" into law this week. Other action on Capitol Hill remained slow this week, as both Houses of Congress have adjourned for the Presidents Day Recess..The Joint Committee of Taxation estimates this option would increase revenues, in other words, raise your taxes, by 1 billion from 2019 through 202The increase would be even greater after the temporary provisions of the 2017 tax legislation, that lowered rates and increased the standard deduction, expire at the end of 2025..While Congress was busy debating the repeal of the Affordable Care Act and tax cuts for millionaires and billionaires, the federal government hit the debt ceiling on March 15th. Since then, the Treasury Department has been using "extraordinary measures" like postponing contributions to retirement accounts for federal employees to buy time and prevent a default on federal debts, including the money that the U.S. Treasury owes to the Social Security Trust Fund..Petition to Congress: Put an End to Dramatic Increases in Prescription Drug Costs.Higher taxes and reductions to benefits are expected to top the discussions of the next Congress. If we intend to protect our Social Security and Medicare benefits, it's going to be up to us to play a major role in crafting the solution. We're out of time for partisan stand offs. This is not an "us versus them" situation. This is a "we" as in "we are all in the same boat." Please join TSCL in helping to be part of the solution. To learn how you can take part click the links to: sign a petition, make a donation, or become a member of TSCL.