State Of State Legislatures 2020 Oas Episode 82The last time the Medicare Part A Trust Fund was forecast to become insolvent was in 200At the time, the Part A Trust Fund was forecast to become insolvent by 201Lucky for us that never happened - in 2017 at least. Congress enacted the 2010 Affordable Care Act which changed Medicare taxes in two ways. It added a 0.9% surtax to the amount of Medicare payroll taxes paid by high earning individuals with wages over 0,000. This was on top of the 1.45% that workers currently pay on their wages. A second provision affecting the more affluent, imposed a 3.8% tax on a portion of net investment income. Estates and trusts can also be subject to this tax..The Senior Citizens League strongly endorses legislation that would guarantee that COLAs are no lower than 3% and is working with Congress for the passage of an emergency COLA benefit boost for 2021..As we said earlier, the end of the federal government's 2020 fiscal year is fast approaching and unless Congress can pass new funding legislation before then, we face the possibility of another government shutdown. Last week the House of Representatives passed a four-bill fiscal 2021 spending package, advancing its first annual funding measure of the year. The legislation includes State and Foreign Operations, Agriculture-FDA, Interior-Environment, and Military Construction-VA funding. … Continued
Conoravirus UpdateAs we said, TSCL is supportive of intentions of these, and other efforts on the part of both parties to lower prescription drug prices. However, we also have our own concerns..New study says drug prices really have been increasing. … Continued