Navigation Links
The Senior Citizens League Finds No Support Among Seniors for Likely Disability Trust Fund Fix
Date:7/28/2014

Alexandria, VA (PRWEB) July 29, 2014

A leading proposal to temporarily fix the looming insolvency of the Social Security disability trust fund by reallocating payroll taxes has virtually no support among seniors, according to a new poll by The Senior Citizens League (TSCL). Less than one percent of seniors polled said shifting revenues from the Social Security retirement trust fund to pay disability benefits was the best way to fix the disability program’s financing. “TSCL believes this ‘band aid’ approach will not be quietly tolerated this time around,” says TSCL Chairman Ed Cates. “Today’s senior voters have clear preferences for how they think lawmakers should address the disability program’s funding shortfalls — reallocation of payroll taxes from the trust fund that pays retirement benefits is not one of them,” Cates states.

Congress has reallocated payroll taxes at least 9 times in the past to temporarily avert trust fund financing crises, according to the Congressional Research Service. “Doing so now would be much more difficult, because the retirement program is in cash deficit, and the government is borrowing money to cover retirement and survivor benefits,” Cates points out. “Reallocation from the retirement trust fund would mean the government would have to borrow more, a recipe for more explosive debt limit show downs in coming months,” he says. “The situation could put all Social Security benefits, including retirement and survivors benefits, at risk of cuts in debt limit negotiations,” Cates explains.

Although the Social Security trust fund is often reported as being solvent until 2033, there are two separate trust funds, each with separate insolvency dates. The trust fund for the disability insurance program is in the biggest financial trouble and is estimated to become completely exhausted in 2016 or by 2017. “With 2016 being a major presidential election year, either the next Congress will need to enact program changes next year, or risk running out the clock and triggering across the board benefit cuts,” Cates points out.

If Congress does nothing and the Social Security disability trust fund is allowed to become fully exhausted, there will still be payroll taxes coming into the program, but 11 million disability beneficiaries would see their benefits automatically cut by about 20%, according to the Congressional Research Service. The reallocation of payroll taxes from the retirement trust fund is likely to gain increasing attention from Congress in coming months, although it’s unclear when or if Congress will act.

The TSCL poll found seniors were closely split over the two other leading approaches to address the disability program’s solvency. Forty-eight percent favored tightening Social Security’s disability eligibility requirements and conducting more annual eligibility reviews to reduce fraud. Fifty-one percent favor requiring high wage earners to pay Social Security taxes on all of their incomes. “TSCL believes that the only way Congress will forge an agreement is through bipartisan efforts that use a combination of the two approaches,” Cates states. What do you think about issues affecting seniors? Take a poll. Visit TSCL’s website at http://www.SeniorsLeague.org.

###

With about 1 million supporters, The Senior Citizens League is one of the nation's largest nonpartisan seniors groups. Located just outside Washington, D.C., its mission is to promote and assist members and supporters, to educate and alert senior citizens about their rights and freedoms as U.S. Citizens, and to protect and defend the benefits senior citizens have earned and paid for. The Senior Citizens League is a proud affiliate of TREA The Enlisted Association. Please visit http://www.SeniorsLeague.org or call 1-800-333-8725 for more information.

If you would like to continue receiving these press releases via email, please send your email address to sbenton(at)tsclhq(dot)org.

Read the full story at http://www.prweb.com/releases/2014/07/prweb12053049.htm.


'/>"/>
Source: PRWeb
Copyright©2014 Vocus, Inc.
All rights reserved

Related medicine news :

1. Chronic Medical Conditions Can Shorten Seniors Lives: Study
2. Motivation explains disconnect between testing and real-life functioning for seniors
3. Inspiring Senior Athlete Lands Third World Title in One Year
4. Full Explanation Reduces Seniors’ Worries about Lung Cancer Screening
5. Home Care Assistance – Halton/Peel Region Weighs in on Alberta Communities Receiving Funding to Support Seniors and Senior Caregivers
6. NewYork-Presbyterian Hospital Names New Senior Vice President for Quality and Patient Safety
7. Hayes, Inc. Senior Vice President to Speak at AHRMM14 Conference
8. 5i Sciences Announces Appointment of a Senior Healthcare Consultant and Successful Financing
9. Scottsdale Senior Care Company Partners with Licensed Clinical Social Worker and Award-Winning Author to Host Webinar on Caregiver Mindfulness
10. Routine Errands a Risky Time for Falls by Seniors
11. North Carolina Seniors Guide Focuses on Continuing Care Retirement Communities in the Triangle in August 2014 issue
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/19/2017)... (PRWEB) , ... February 19, 2017 , ... ... proven to result in better care, and MEDfx and the Delaware Health Information ... of Delaware. , As the nation’s first state-wide health information exchange, DHIN stores ...
(Date:2/18/2017)... , ... February 17, 2017 ... ... for Devicemakers , Sponsored by Axendia, **FDAnews Free Webinar**, March 1, 2017 ... manufacturers looking to reduce their regulatory burden? Pay dividends in enhanced and ...
(Date:2/18/2017)... Lewisberry, PA (PRWEB) , ... February 17, 2017 , ... ... more about the Stannah Stairlift and other Butler products. Ken was impressed with ... team, and agreed to endorse the product on his show. This endorsement by ...
(Date:2/18/2017)... ... ... Park Cities Pet Sitter President, Joette White, has been featured on Episode 304 ... episode, which was posted this week, features a 30-minute interview of White by Moore ... Sitter’s being awarded the 2017 National Association of Professional Pet Sitter’s Business of the ...
(Date:2/18/2017)... ... February 18, 2017 , ... ... the latest information and contact points to easily connect elderly veterans of America's ... living, and elder-care funding. It also conveys material on this year's increase in ...
Breaking Medicine News(10 mins):
(Date:2/18/2017)... 17, 2017 Research and Markets has announced the ... to their offering. ... report provides separate comprehensive analytics for the US, Canada ... Asia-Pacific , Latin America , and Rest ... through 2022. Also, a six-year historic analysis is provided for these markets. ...
(Date:2/17/2017)... 17, 2017 Arvinas LLC, a private biotechnology ... protein degradation, today announced the presentation of new preclinical ... a poster session at the American Society of Clinical ... Orlando, FL. "The ... and the potential of PROTACs to drive durable and ...
(Date:2/17/2017)... , Feb. 17, 2017   Risperdal lawsuits involving ... allegedly associated with use of the atypical antipsychotic medication ... Court of Common Pleas, where the state,s ... program. According to a notice posted on the ... a meeting on March 9, 2017 at 11:00 a.m. ...
Breaking Medicine Technology: