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Romney and Manchin come together to introduce the TRUST Act

Romney and Manchin come together to introduce the TRUST Act

“It’s irresponsible for Congress to keep ignoring a preventable crisis. We must put in place a responsible process now to prevent dramatic cuts to programs like Social Security and Medicare or be forced to enact massive tax hikes down the road, both of which would be devastating to middle class Americans. We have a duty to work to secure these programs that provide a safety net for millions of Americans.” – Senator Mitt Romney

Senators Mitt Romney (R-UT) and Joe Manchin (D-WV), along with Senators Todd Young (R-IN), Doug Jones (D-AL) and Krysten Sinema (D-AZ), have come together to introduce the Time to Rescue United States’ Trusts (TRUST) Act.

This bipartisan legislation proposes congressional committees be formed specifically to develop legislation that will improve upon the endangered federal trust funds.

Without attention, these trust funds – Highway, Medicare, and Social Security – will run dry within the next thirteen years.

The TRUST Act would 45 days to compile reports overviewing the government trust funds. A “Rescue Committee” would then be formed for each trust and face the task of drafting legislation to restore and improve each fund.

The TRUST Act currently has 8 cosponsors and has been referred to the Committee on Homeland Security and Governmental Affairs.

“I have always said that our national budget should reflect our values and priorities, but be fiscally responsible. Unfortunately, our fiscal irresponsibility has left critical programs like Social Security and Medicare heading towards insolvency. Congress cannot let these programs fail. That’s why I’m proud to join my colleagues on this bipartisan bill to proactively help to secure sustainable funding for programs like these before it’s too late.” – Senator Joe Manchin

Is your favorite morning drink having a negative impact on your health?

Is your favorite morning drink having a negative impact on your health?

Giving up the drink you rely on to get going each morning can be tough. But experts are warning that some popular morning beverages could be negatively impacting your health, especially for the over 50 crowd. Pumpkin spice lattes, iced frappuccinos and premade smoothies are high in sugars and fats. Another common offender, soda, is… Continue Reading

Another Social Security scam

Another Social Security scam

Social Security scams are nothing new. The newest scam that the Federal Trade Commission is warning seniors about is a robocall, warning the recipient that all their benefits are being cancelled. The best thing you can do if you receive this type of call is to simply hang up the phone and report the scam… Continue Reading

Could Social Security have sent you an incorrect estimate?

Could Social Security have sent you an incorrect estimate?

A coding error on the part of the Social Security Administration caused the agency to send out incorrect “On Request” paper statements. These faulty statements were sent in response to information requests via the SSA-7004 paper form. According to the SSA, the incorrect statements were sent to those, born in 1955, 1956 or 1957 were… Continue Reading

What’s in a name? Social Security releases top baby names

What’s in a name? Social Security releases top baby names

Every year the Social Security Administration releases a list of the most popular baby names from the previous year, based on requests for Social Security numbers. It’s always interesting to see which names are rising/falling in popularity, how pop culture is affecting name choices and what classic names are holding steady in the rankings. The… Continue Reading

Countdown clocks warn public of Social Security crisis

Our friends over at The Seniors Center have recently launched two countdown to insolvency websites to warn the public about the looming funding crisis facing the Social Security system. “SocialSecurityInsolvencyClock.org and SocialSecurityDefaultClock.org were started with a simple idea in mind,” said The Seniors Center President Dan Perrin. “We need to make Social Security insolvency something… Continue Reading