Due to a loop hole in Social Security law, the pending controversial Totalization Agreement, signed in June 2004, would allow millions of Mexican workers, and dependents on their accounts, to become entitled to Social Security benefits that include credit for earnings received while working illegally. If allowed to take effect, TSCL believes hundreds of billions in Social Security benefits are at stake..Social Security benefits have lost 34 percent of buying power since 2000, according to the 2018 Social Security Loss of Buying Power Study recently released by The Senior Citizens League. This is the biggest loss of buying power recorded since 2012, and that was the biggest loss that The Senior Citizens League's study has recorded to date..The plan released this week is not expected to be adopted or even to win any bipartisan support on Capitol Hill. However, it does mark the start of the fiscal 2016 budget negotiations, and it lays out the line-by-line needs of the federal agencies for appropriators. Soon, the House and Senate Budget Committees will release their own spending blueprints for fiscal 2016, and TSCL expects to see proposals that would dramatically alter the Social Security and Medicare programs. We will keep a close eye on the negotiations as they evolve, and will post updates here in the Legislative News section of our website..TSCL understands that the budget deficit is growing out of hand. According to the non-partisan Congressional Budget Office, the massive tax reform and budget bills recently adopted by Congress will cost the federal government an estimated .7 trillion over the next ten years. However, TSCL firmly believes that a constitutional balanced budget amendment, that would disproportionately impact seniors and limit the ability of Congress to respond to economic downturns, is not the solution to the problem..This week, lawmakers in the House remained in their home districts to continue the summer recess. They are expected to return to Capitol Hill next Tuesday, September 4th. In the days ahead, many Members of Congress will be attending local events and hosting town hall meetings in their home districts. The Senior Citizens League encourages its supporters to attend these events and to ask important questions of their elected officials, like the following five..Democrats want to be able to pass President Biden's economic stimulus/COVID-19 relief bill, but it is highly unlikely they could get 10 Republicans to vote for the bill..On Tuesday, with a vote of 244-154, lawmakers in the Housed approved legislation to repeal the Affordable Care Act's controversial Medicare cost-cutting board..On Friday, lawmakers in the House and Senate prepared to return to their home states and districts for a week-long recess. They are scheduled to be back in Washington on Monday, May 7th. In the meantime, many Members of Congress will be attending local events and hosting town hall meetings..In addition, according to the CBO's analysis, around 15 million fewer individuals would receive coverage through the Medicaid program, which currently covers the cost of long-term care for one in five Medicare beneficiaries. The BCRA would do away with the current Medicaid reimbursement system where the federal government matches state Medicaid expenditures and replace it with a new formula that would be tied to inflation. If costs grow more quickly than reimbursements as they are expected to, states would likely need to cut benefits, increase taxes, or restrict Medicaid eligibility.
