Joe Biden Archives

Default Could Be Devastating to Seniors on Fixed Incomes

As the country nears a projected federal default date as early as June 1, experts and advocates are warning that seniors’ benefits could be in jeopardy. A default mean that the government will not be able to meet its financial obligations, resulting in delays for vital programs like Social Security and Medicare.

NCPSSM2023-05-17T12:41:12-04:00May 17th, 2023|Categories: Congress, Debt Ceiling, Joe Biden, Kevin McCarthy, Max Richtman, Medicare, Social Security|

Today is the Day Millionaires Stop Contributing to Social Security for 2023

Today is the day most millionaires stop paying into Social Security for the rest of the year, while most of us will continue contributing FICA payroll taxes through the end of December. The payroll tax cap for 2023 is $160,200 in annual wages. As of today, people grossing $1,000,000 a year in wages have now exceeded the cap.

NCPSSM2023-02-28T12:05:17-04:00February 28th, 2023|Categories: Joe Biden, Payroll Tax Cap, payroll taxes, Rep. John Larson, Social Security|

NCPSSM Celebrates New Drug Pricing Law at White House with President Biden, Advocates

National Committee President Max Richtman and other advocates joined President Biden at the White House on Tuesday for a celebration of the new law reducing prescription drug costs for Medicare beneficiaries, the Inflation Reduction Act. The event, held on the South Lawn, was attended by members of Congress, administration officials, and representatives of seniors’ groups including AARP, the Center for Medicare Advocacy, and the seniors’ council of the Democratic National Committee.

NCPSSM2022-09-15T10:17:02-04:00September 14th, 2022|Categories: Congress, Democrats, Joe Biden, Max Richtman, Medicare, Prescription Drug Prices|

Rep. Larson to Introduce Revised Social Security Expansion Bill

Next week, Social Security will mark its 86th anniversary of providing Americans with basic financial security in old age (and, since 1956, upon becoming disabled). And yet, quite incredibly, baseline Social Security benefits haven’t been expanded in fifty years – even though seniors’ living costs have soared over the decades. Congressman John Larson (D-CT) is once again hoping to change that. Larson, a true Social Security champion who introduced legislation to boost Social Security in previous Congresses, has now released the details of a revamped bill to increase benefits and extend the program’s solvency.