News
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Legislative Update Week Ending June 17 2016
Here are some important tips to get you started: .The week ended with a live speech from President Trump heralding the new legislation passed recently that makes mandatory the transparency of the cost of hospital treatments, supplies and prescriptions. Of most interest to TSCL is the high cost of prescription drugs. During our meetings with Congressional offices this week we left information with all of them concerning a large number of issues we are working on including prescription drug prices. .Social Security arose again at the hearing when Committee Member James Clyburn (SC) commented on the payroll tax cap, which is currently set at 6,800. He suggested that the cap be raised to cover 90 percent of income – as it did in the early 1980s – in an effort to restore the program to solvency. Some Members scowled disapprovingly at this proposal and it is still unclear whether the Committee will even touch Social Security, but if they do, this option could appear on the short-list. Clyburn asked Barthold to research the potential effects of raising the wage cap and to report back to the Joint Committee. … Continued
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Social Security Medicare Questions March 2012
According to an article in The Hill, a Washington, D.C., newspaper that covers legislative matters in Congress, it just might happen. .This week, House lawmakers remained in their home districts to continue the August recess. Meanwhile, The Senior Citizens League (TSCL) saw support grow in the Senate for three bipartisan bills that would strengthen the Medicare program. .In fact, when the COLA increases since 2000 are compared with the typical cost increases that retirees experienced over the same period, Social Security benefits have lost 34% of their buying power. COLAs increased benefits a total of 46 percent, while typical senior expenses have jumped 96.3 percent between 2000 through the first week of 201To put it in perspective, for every 0 worth of groceries a retiree household could afford in 2000, they can only buy worth today. … Continued
Other critics say that revising the government's purchasing rules will not provide a quick solution to the supply shortages of the current pandemic. "Making Buy American provisions tighter during the current crisis would likely do more harm than good," according to William Reinsch and Jack Caporal of the Center for Strategic and International Studies. .A person with average Social Security benefits in 2000 received 6 per month, a figure that rose to ,166.30 by 201However, that individual would require a Social Security benefit of ,419.00 per month in 2015 just to maintain his or her 2000 buying power, the study found. .(Washington, DC) – Older Americans overwhelmingly support legislation that would allow Medicare to negotiate prescription drug prices, according to a new survey by The Senior Citizens League (TSCL). The online survey, which had over 1,234 participants, found that 88 percent support tying prescription drug prices to what other industrialized countries, such as Great Britain, Canada and Japan, pay for the same drug. .Commodities and Services Pricing Survey, an establishment survey of businesses selling goods and services to consumers, used to provide the price data for the CPI .The program applies to illegals under the age of 31, who entered the U.S. prior to the age of 16, and have resided illegally in the U.S. since June 15, 200Applicants must also be currently enrolled in school, have a GED certificate, or have served in the U.S. military, and be law-abiding. Critics, including TSCL, question how the government will be able to verify when applicants actually entered the country and whether they were under the age of 16 when they did. .(For more details see our "FAHow ‘Undocumented' Workers Are Becoming Entitled To Social Security.") Of particular importance is an exception that applies to immigrants receiving benefits living in a country with which the U.S. has a totalization agreement. It appears that under the U.S./Mexico Totalization Agreement, all that any illegal Mexican worker must do to qualify for benefits is return to Mexico. Once a claim has been filed, the U.S. Social Security system counts all earnings, even for jobs worked without legal authorization, to determine entitlement to benefits. TSCL is particularly wary of how the 2012 presidential election may affect the status of the agreement. And, even if voters send a new president to the White House, the agreement will continue to remain pending even if no action is taken by President Obama, for the next President's consideration. .The House passed the bill yesterday and the Senate is expected to take it up next week. .TSCL has been working to get legislation enacted that would require a minimum COLA of no less than 3%, even in years when inflation falls below that amount. There's a lot of money at stake for retirees. An analysis prepared by Advisor editor Mary Johnson estimates that Social Security benefits for anyone retired since 2009 would be 18% higher today had Social Security recipients been protected by such a 3% minimum. An average benefit of ,075 in 2009 has increased to ,229.60 in 201But had beneficiaries received a minimum COLA of no less than 3%, that benefit would be ,453.10 per month today — more than 3.50 per month higher! .There are 1,313,935 active members/supporters.