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From the monthly archives: December 2017

We are pleased to present below all posts archived in 'December 2017'. If you still can't find what you are looking for, try using the search box.

Hollow Victory for Trump & GOP is a Loss for Seniors, Working Americans

National Committee President and CEO Max Richtman issued the following statement after passage of the Trump/GOP tax plan.

“Congressional Republicans have just pulled off the biggest heist in American history – transferring trillions of dollars of wealth to the rich and profitable corporations at the expense of working and middle class Americans.  By ramming this ill-considered legislation through Congress in a reckless manner, GOP members of Congress put partisanship over people and donors over constituents.  Last-minute revisions designed to woo holdout Senators – including a change benefitting real estate moguls like President Trump – tilted the bill even further toward wealthy elites.  

It is wrong to ask the poor, the working class, and elderly to pay for tax breaks for the rich and powerful, which is exactly what the Trump/GOP tax bill will do.  The tax cuts will explode the federal debt by at least $1.5 trillion, laying the groundwork for an all-out effort to cut Social Security, Medicare, and Medicaid.  House Speaker Paul Ryan and Florida Senator Marco Rubio have already promised as much in recent public statements.  Blowing up the debt for tax cuts, then claiming that there’s no choice but to cut benefits for seniors is the height of hypocrisy. As proof of Republicans’ intent, the 2018 GOP budget resolution slashes nearly $500 billion from Medicare and more than $1 trillion from Medicaid. 

The bill’s repeal of the Obamacare individual mandate will result in 13 million Americans losing coverage, and an average $1,500 hike in health insurance premiums for older adults aged 50-64.  Adopting the miserly “Chained CPI” inflation index for calculating tax brackets and deductions could easily creep into the formula for determining Social Security cost-of-living adjustments (COLAs), which would cost retirees thousands of dollars in the long run.  Unfortunately, the pleas of advocates and everyday Americans demanding that Congress abandon this cynical legislation has fallen on deaf ears. But it’s a hollow victory for the GOP. While the perpetrators of the tax scam may be popping the champagne today, next November they surely will see that voters have declared the party’s over.” 

Mess of a GOP Tax Bill Still Hurts Older Americans

(Updated 12/15/17 2:45pm)

The tax bill that has emerged from closed-door negotiations between House and Senate Republicans remains deeply harmful to the working class, the elderly, and the sick.  The only good news is that the bill retains the medical expense deduction which so many older Americans rely upon.  The rest is bad news.  The latest version of the bill:

*Triggers an automatic $25 billion cut to Medicare.

*Blows a $1.5 trillion hole in the federal debt, inviting future cuts to Social Security, Medicare, and Medicaid.

*Zeroes-out the tax penalty for the Obamacare coverage mandate, which will cause an estimated 13 million Americans to lose insurance – and result in higher premiums for older adults (an average of $1,500 in 2019). 

*Uses the paltry “Chained CPI” inflation index to calculate adjustments to tax brackets and deductions, which will not only result in tax increases, but could ultimately result in lower Social Security cost-of-living adjustments (COLAs).

At the same time, the bill continues to shower the wealthy and profitable corporations with trillions of dollars in tax breaks while providing scant relief for working Americans.  Senator Ron Wyden (D-OR) summed it up this way:

“The American people are witnessing a master class in how one political party, relying on secrecy distortion and brute force, can muscle an unpopular, deficit exploding corporate giveaway to passage… This is the ultimate betrayal of the middle class.” – Senator Ron Wyden

And yet, Republican leadership forges ahead with its reckless tax scheme - by hook or by crook - ignoring fairness, fiscal responsibility, and the will of the American people.  A Quinnipiac University poll released yesterday finds minimal public support for the GOP tax plan:

Only 16 percent of American voters say the tax plan will reduce their taxes, while 44 percent say it will increase their taxes and 30 percent say the tax plan will have little impact. The wealthy will benefit most from the tax plan, 65 percent of voters say. - Quinnipiac University poll, 12/13/17

A few GOP Senators are poised to either show Pavlov-style allegiance to their party or strong leadership on behalf of the American people when the bill returns to the Senate floor.  Senator Bob Corker (R-TN) remains opposed to the bill.  (He was the sole Republican to vote against the Senate-passed version).  In the space of barely 24 hours, Senator Marco Rubio (R-FL) flipped to a 'No' and then back to a 'Yes.'  

That leaves Senator Susan Collins (R-ME).  She still has not definitively come out against the bill, even though it violates the principles she valiantly fought for during the Obamacare repeal debate – not to mention that leadership has broken all the promises it made to secure her vote.  We can only hope that she will find her bearings again and declare herself opposed, as the Portland (Maine) Press-Herald urged in an editorial this week:

Senator Collins should not reward the tea-party right or President Trump’s Wall Street insiders by voting for a bill that does so much for so few who don’t need it. – Portland Press-Herald, 12/12/17

Even if Senator Collins joined Senator Corker in opposition, a third Republican would have to come out against the bill.  As next week's votes in the House and Senate draw near, that is looking like an increasingly remote possibility.  

National Committee President, House Dems Decry GOP Tax Plan’s "Dire" Impact on Seniors

As Republicans remain indifferent – or in denial – about the impact of the Trump/GOP tax scam on older Americans, seniors’ defenders are sounding the alarm.  National Committee president and CEO Max Richtman joined House Minority Leader Nancy Pelosi and other Democratic representatives in front of the U.S. Capitol today to warn of the dangers the tax plan poses to seniors’ retirement and health security. Richtman called the tax bill a “con game that should be called the ‘Washington two-step.’”

“Step one is cutting taxes for top-earning households and profitable corporations. Step two:  use the higher deficits the tax bill will create to cut critical programs, like Medicare, Medicaid and Social Security.” – Max Richtman, NCPSSM president and CEO, 12/6/17

Senator Marco Rubio (R-FL) let the cat out of the bag when he acknowledged that Republicans will come after seniors’ earned benefit programs as soon as the tax cut passes.  In fact, the tax bill will trigger an immediate $25 billion cut to Medicare unless Congress quickly waives the PAYGO provision of federal budget law. (Both Medicare and Medicaid – which helps seniors afford long-term care – are targeted for deep cuts in the GOP budget plan.) The tax scam also hurts older Americans by zeroing out the Obamacare coverage mandate penalty (which could result in higher premiums for 50-64 year-olds).  It also imposes the paltry “Chained CPI” as an inflation index for taxes, which could later bleed over into Social Security cost-of-living adjustments and shrink badly needed increases in retirees’ checks. 

Speaking on this chilly December afternoon in the nation’s capital, Leader Pelosi said, “It’s a cold day for seniors because of this GOP tax scam. It is an assault on the older Americans who built this country.  Seniors are among the biggest losers in this legislation.”

Congresswoman Jan Schakowsky (D-IL) called the tax bill “the first step in the Republican plan to undermine the financial and health security of older Americans.”

Rep. Doris Matsui (D-CA) observed that the threat to seniors from the GOP tax legislation “keeps getting worse and worse” and said the bill would have “cruel and dire” consequences.  She slammed the House bill’s repeal of the medical expense deduction, which millions of seniors use to mitigate high out-of-pocket medical and long-term care costs.

Republican members of a House-Senate conference committee are currently meeting behind closed doors to work out the differences between each chamber’s version of the tax bill.  Leadership hopes to pass a final bill and send it to President Trump for signature before Christmas – perhaps the worst holiday gift Congress could possibly give to the American people.  Seniors and their advocates are right to be concerned about this legislation, which is deeply unpopular with the public (only 29% of Americans support it in the most recent polling).  But after years of dreaming about slashing Social Security, Medicare, and Medicaid, Republicans are now in a position to carry out their craven plans - without apparent regard for public opinion, fairness, or decency. 

After Passing Senate Tax Bill, GOP to Target Seniors' Earned Benefits

Maybe it’s no coincidence that the Senate passed its tax bill, vampire-like, in the dead of night.  How very apropos for legislation that could lead to the lifeblood being leached out of programs that the elderly and working class depend on.  Kudos to Senator Bob Corker for being the lone Republican to stand on principle and vote against the bill.  At the same time, Senator Collins, Murkowski, McCain, and other sensible GOP members have disappointed by betraying principles they proclaimed were important during the healthcare battle, but seem to have forgotten during the tax debate.  (Among other things, the bill zeroes out the tax penalty in the Obamacare insurance mandate, which could lead to 13 millions Americans losing coverage and higher premiums for older Americans.)  

In the wake of the bill’s passage early Saturday morning, National Committee President Max Richtman made the following statement:

“Senate Republicans have just given the wealthy and multi-national corporations an early Christmas present by passing the Trump/GOP tax plan, while leaving a lump of coal for seniors and almost everyone else.  The president and his party in Congress are asking the poor, middle class, and elderly to pick up the tab for trillions of dollars in tax breaks that the super-rich and profitable corporations do not need.” - Max Richtman, NCPSSM President, 12/2/17

Senator Susan Collins’ last-minute amendment to retain the current medical expense deduction threshold (up to 10% of adjusted gross income) made the Senate bill a little more tolerable, but not by much.  The House version outright repeals the medical expense deduction – which millions of seniors rely upon to mitigate high out of pocket medical and long-term care costs.  But the biggest poison pill for the elderly in this legislation is the existential threat it poses to Social Security, Medicare, and Medicaid.  

“If enacted, the tax bill will trigger an automatic $25 billion cut to Medicare.  It blows a $1 trillion hole in the deficit, inviting deep cuts to Social Security, Medicare, and Medicaid. It adopts the paltry “Chained CPI” inflation index for calculating deductions and tax brackets, setting a dangerous precedent that could spill over into cost-of-living adjustments for Social Security.” – Max Richtman, NCPSSM President, 12/2/17

The Senate bill is only slightly less objectionable than the House version, which passed in November.  The two must either be reconciled in a House-Senate conference – or the House may vote on the Senate version as-is.  Republican leadership has promised to have the legislation on President Trump’s desk before the holidays, making this one of the rottenest Christmas presents the Congress has ever given the American people. 

As if to confirm the warnings of seniors’ advocates, Republicans have signaled that their next targets after the tax bill are Social Security, Medicare, and Medicaid

“High-ranking Republicans are hinting that, after their tax overhaul, the party intends to look at cutting spending on welfare, Social Security, Medicare and other parts of the social safety net. House Speaker Paul Ryan, R-Wis., said recently that he wants Republicans to focus in 2018 on reducing spending on government programs.” – Washington Post

Senator Marco Rubio (R-FL) admitted as much in an interview with Politico last week, declaring that spending cuts in earned benefits programs will be necessary to pay for tax cuts for the wealthy and multinational corporations.

“We need to generate economic growth which generates revenue, while reducing spending. That will mean instituting structural changes to Social Security and Medicare for the future.” – Sen. Marco Rubio, 11/29/17

Of course, by “structural changes,” Rubio really means cutting earned benefits and turning Medicare into a voucher program.  He and other GOP leaders have been pushing this agenda for years; the difference is that now they have the power to enact it, common sense, decency, or the well-being of seniors be damned.

Senator Rubio’s pronouncements further expose the phoniness of candidate Trump’s promises “not to touch” Social Security and Medicare. By championing the Trump/GOP tax plan, the President has embraced the inevitable efforts to slash both programs to close the deficit. What’s more, the President’s own 2018 budget blueprint called for more than $60 billion in cuts to Social Security Disability Insurance (SSDI).  Notice that we don’t see President Trump contradicting Senator Rubio’s comments to Politico.  We can now safely say that seniors should take Republicans’ word for it:  After giving the wealthy and profitable corporations a multi-trillion-dollar holiday gift, Congress will take an axe to programs Americans have paid into for the entire working lives.

Click here for a detailed analysis of how the Senate GOP tax bill hurts seniors.



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