One of the most important results of this change is that the Senate Majority Leader controls what legislation moves through the Senate. That is crucial in determining what happens in terms of President Biden's agenda in the next two years. .The bill would reduce the number of tax brackets from seven to just four — 12 percent, 25 percent, 35 percent — and would keep the highest bracket at 39.6 percent. It also increases the standard deduction from ,350 (individuals)/,700 (married couples) to ,000 (individuals)/,000 (married couples). While the standard deduction would increase, taxpayers on the other hand would lose personal exemptions — the ones for themselves, a spouse and/or dependents, which currently are ,050 per person. Exemptions would be replaced with a 0 credit through 2022, and eliminated thereafter. .Should Social Security benefits be adjusted annually using a locality – based payment rate? Some of you, particularly those of you who are retired federal employees know far more about locality - based pay adjustments than I do. I hope you folks can set us straight on a new legislative proposal that would use locality- based pay adjustment rates to adjust Social Security benefits. My quest­ion to you — is this a good idea? Why or why not? .Managing the cost of pet care grows more emotionally and financially challenging as we and our pets age. The cost of care often sets up ethical dilemmas, especially for older adults facing unfunded gaps in retirement income. .This week, The Senior Citizens League released its final estimate for the 2019 Social Security cost-of-living adjustment (COLA), and four key bills gained support in Congress. .Immigration Reform – Close a loophole that pays Social Security benefits based on illegal work, preventing a drain on the Social Security Trust Fund. .The Senate was back in Washington this week, holding hearings and confirming judicial and executive branch nominees. And while those are official duties of the Senate, no new legislation was passed. ."This leaves 20 percent of survey participants who just aren't sure if their Social Security benefits will be taxable this tax season or not, more than triple the 6 percent who were uncertain about the 2019 tax year," Johnson says. The survey, which was conducted online from mid-January through February, had more than 864 participants. .However, if a waiver would have been included in the Covid relief bill Senate rules would have required there that 60 votes in favor of passage would be needed instead of a simple majority of 51.