In a letter that was sent to the twenty-nine conferees on Monday, members of the House Appropriations Committee wrote: "We call on the Budget conference to reach an agreement on the FY2014 and FY2015 spending caps as soon as possible to allow the appropriations process to move forward … If a timely agreement is not reached, the likely alternatives could have extremely damaging repercussions." According to the appropriators, the alternatives include: a government shutdown on January 15th, continued governance by continuing resolution, and a second round of across-the-board spending cuts via the "sequester," which is scheduled to hit in January..By Jarrad Hensley, TSCL Legislative Assistant.The rapid growth in Medicare Part B costs is consuming an increasing share of beneficiaries' income. What proposals do you support to slow the growth in the out-of-pocket costs?.But our fight to protect seniors doesn't stop there. My bill also ends the nonsensical practice of "double taxation" on Social Security benefits for middle class seniors. Currently, many seniors pay taxes when they receive their Social Security benefits, even though they were taxed to create those benefits throughout their working lives. That's wrong! Providing a tax cut to middle class seniors while increasing the sustainability of Social Security is something everyone in Congress can and should agree on..We are interested in hearing from our readers to learn what you think about the new Medicaid expansion. Are you benefiting from the new rules? Should there be tighter asset restrictions? Send us an email at [email protected] answer depends upon whether you start your benefits before or after your full retirement age - which in 2017 is 6When you start Social Security benefits before your full retirement age, you will be subject to the Social Security earnings test. The earnings test can cause Social Security to withhold your benefits if you earn more than the annual exempted amount. In addition, your initial retirement benefit will be permanently reduced, because you started Social Security prior to your full retirement age. It pays to wait until 6Here's why:.TSCL's annual senior survey, conducted from January through March of this year, confirmed that monthly household expenses made steep increases over the past year. The majority, 67%, indicated their monthly expenses went up by more than With today's Social Security benefit averaging ,320 per month, this is an unsustainable level of rising spending when there's just a 0.3% benefit increase to match..When it comes to strengthening Social Security's finances, Members of Congress only have two choices - to cut spending on benefits, or increase program revenues. Typically in the past, the focus has been on proposals that would cut benefits rather than raising revenues. Proponents of cuts argue that benefits must be cut because Social Security is insolvent as currently structured. They point to the fact that there are fewer workers to provide payroll tax revenues for swelling number of retirees..I can't find the remote.

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The income thresholds for the federal poverty levels are adjusted using a somewhat faster growing index than the one used to determine the COLA. Unlike the Consumer Price Index for Urban Wage Earners and Clerical Workers, which does not survey the costs of people over the age of 62, the Consumer Price Index for All Urban Consumers CPI-U includes the spending patterns of both younger workers and people over the age of 6Consequently the federal poverty limits increase somewhat faster than the CPI-W and today's COLAs. The 2016 poverty levels reflect a 0.1% increase over 2015 rather than zero like the Social Security COLA.."The switch looks deceptively small on paper," says TSCL's Executive Director Shannon Benton. "But it would have a big impact on Social Security income," she says..If passed, the CPI-E Act would base Social Security cost of living adjustments on a consumer price index determined by the spending habits of elderly workers instead of the current formula geared toward younger members of the workforce. … Continued

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On Friday, SSA announced that Social Security benefits will increase by 2% percent beginning in January 201While the 2018 cost-of-living adjustment is the largest increase in five years, it continues a trend of abnormally low benefit growth..An intense battle over Social Security is brewing and TSCL is gearing up for major Congressional action. Recently retired Federal Reserve Chairman Alan Greenspan waded back into the fray to tell Congress "Our choices right now are not between good and better; they're between bad and worse. The problem we now face is the most extraordinary financial crisis that I have ever seen or read about. Irrespective of what you say should be done on the tax side, you still have to cut some benefits on the expenditure side." The statement is chilling considering Greenspan oversaw the largest single overhaul of the program in history, chairing the National Commission on Social Security Reform in the early 1980's..Here are three things you can start doing right now to lower your Medicare costs … Continued

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