Will Republicans use their leverage to cut Social Security and Medicare?
Jake Johnson reports in Common Dreams that Senator Lindsey Graham is using the Republicans’ leverage in Congress to cut Social Security and Medicare. Only if Democrats agree to these cuts would Republicans agree to raise the federal debt ceiling. Americans pay into Social Security and Medicare throughout their working lives.
Did Newt Gingrich cut Medicare spending to pay for tax cuts?
When Newt Gingrich was Speaker of the House in 1995, the Republican majority in both houses passed legislation that cut Medicare spending by $270 billion in order to finance $245 billion in tax cuts.
Will Lindsey Graham cut Social Security and Medicare benefits?
Alex Lawson, Social Security Works, explains that “Lindsey Graham and his fellow Republicans will stop at nothing to cut the American people’s earned Social Security and Medicare benefits.”
How many votes are needed to re-authorize social security?
Since the entire Social Security Act deals with taxing and spending (budget items) Budget Reconciliation could be used in the Senate to re-authorize the law, thereby avoiding the need to get 60 votes. But even getting 51 votes might not be all that easy.
No Raise
En español | Social Security beneficiaries won't get a cost-of-living adjustment (COLA) because of low inflation. This will be the third time since 2010 that beneficiaries won't get a raise.
Average Monthly Social Security Benefit
The maximum monthly benefit for workers retiring at full retirement age is $2,639. The average monthly benefit for all retired workers is $1,341.
Goodbye Claiming Strategies
Some popular "file and suspend" claiming strategies that allow married couples to claim larger Social Security benefits than Congress intended will be eliminated. Couples who are eligible now have until the end of April 2016 to enter into a claiming strategy before the loopholes are closed.
Medicare Premiums Go Up – for Some
With no COLA, 70 percent of Medicare beneficiaries won't see an increase in Medicare Part B premiums. For the rest, though, base premiums are going up from $104.90 to $121.80 per month.
Disability Benefits Secured
The trust fund that pays disability benefits was set to run out of reserves in 2016, triggering a 20 percent cut for the nearly 11 million beneficiaries. Instead, over the next three years, more payroll tax money will be diverted to the disability fund, securing full benefits through 2022.
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How long does it take for a SSI decision to be reopened?
A determination or decision which has become final (see � 2001) may be reopened and revised: Within 12 months from the date of the notice of the initial determination for any reason; Within four years (two years in the SSI program) from the date of the notice of the initial determination, if there is good cause for reopening it.
What is the "at any time" rule in Title XVI?
In Title XVI cases, the “at any time” rule applies only if fraud or similar fault is involved. We may decide to reopen a determination or decision on our own initiative or as the result of receiving a written request from you, an eligible spouse, or representative payee.
Do Americans pay into Social Security?
Americans pay into Social Security and Medicare throughout their working lives. They earn these benefits. Alex Lawson, Social Security Works, explains that “Lindsey Graham and his fellow Republicans will stop at nothing to cut the American people’s earned Social Security and Medicare benefits.”
Will the debt ceiling be raised in 2021?
Under President Trump, Congress voted to suspend the debt limit through July 2021. With Trump out of power and a Democratic president in control, Republicans are no longer willing to support this. Senator Wyden, who chairs the Senate Finance Committee, has said that he will not accept the Republicans’ conditions for raising the debt ceiling. “Nobody is going to hold the American economy hostage, period, full stop.”