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Earlier this year Goss confirmed this when he estimated the impact of the president's executive actions on Social Security, saying that the initiative would increase the number of people paying into Social Security and it "will also result in additional individuals gaining insured status for benefits from Social Security." Goss estimated that "the executive actions do not change the year in which the combined trust fund reserves would become depleted, but the projected depletion would occur later in the year 2033,.".According to Rep. Deutch, the bill would extend the solvency of the Social Security trust funds for decades into the future by ensuring that the wealthiest Americans contribute to the program at the same rate as everyone else. Upon its introduction, he said, "Currently, most Americans contribute 6.2 percent of every paycheck they earn to Social Security, while a corporate lawyer earning 0,000 pays an annual rate of just 1.71 percent and a CEO earning million pays an annual rate of just 0.003 percent.".Congress May Consider Ending Two Provisions That Reduce Social Security Benefits of Public Employees.Sen. Mark Begich introduced S. 896 on May 8, 201It has since been referred to the Committee on Finance..TSCL supports legislation that would prohibit the use of earnings under invalid and fraudulent Social Security numbers from being used to determine Social Security entitlement and benefits. To learn more, read TSCL's FAQ, "How 'Undocumented' Workers Are Becoming Entitled To Social Security"..Two Ways and Means Subcommittees held hearings on reforming Medicare and Social Security this week. On Tuesday, the Health Subcommittee heard from a panel of experts on Medicare reform, and on Thursday, the Social Security Subcommittee met to discuss potential changes to the program..The Social Security Notch is the unexpectedly steep drop in benefits that affects people born from 1917 through 192This generation of seniors receives lower benefits than other seniors who had nearly identical work and earnings histories..The low COLA announcement from the trustees comes just weeks after TSCL revealed the findings of its 2016 Survey of Senior Costs. The annual survey examined the cost increases of thirty-eight key items between 2000 and 2016, and it found that Social Security benefits have lost 23 percent of their purchasing power since 2000. During that sixteen-year period, the COLA rose by 36.3 percentage points, while typical senior expenses like housing, Medicare premiums, and prescription drugs jumped 75.3 percent. The findings of the survey are a clear sign that the COLA is growing too slowly, and that it's time to switch to a more accurate measure of inflation like the Consumer Price Index for Elderly Consumers..If signed into law, the Social Security Preservation Act would require that all annual surpluses of the Social Security Trust Funds be invested in marketable interest-bearing obligations of the United States or obligations guaranteed by the United States. It also outlines certain requirements for determining the annual surplus of the Trust Funds. With the Social Security Trust Funds set to expire in 2033, TSCL believes that it is now more important than ever for Congress to protect and secure the program's monies. Rep. Paul's bill would do just that, and we were pleased to see support grow for it this week.