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The Latest Breaking News from Social Security

IRS ups standard deductions, tax brackets due to inflation

Taxpayers will get fatter standard deductions for 2023 and all seven federal income tax bracket levels will be revised upward as the government allows people to shield more of their money from taxation because of persistently high inflation

The Independent UK

What will a GOP majority actually do?

Expect a government shutdown, new attacks on Social Security and Medicare and an end to Ukraine aid, for starters

Salon

Pandemic-related fraud totaled billions. California is trying to get some of it back

A special task force is investigating claims and freezing accounts to determine who legitimately qualifies for the relief money. About $20 billion in unemployment money was stolen by criminals.

WEKU

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Cook County’s basic income pilot: 155,000+ applicants, just 3,250 spots

The Cook County Promise Pilot Program is the latest pilot in the Chicago area that will give selected residents $500 a month for two years with no strings attached. The deadline to apply is Friday.

Chicago Sun-Times

JobSeeker has kept recipients below the poverty line for years, but advocates say they've never been worse off

As food prices and living costs rise, social services advocates say they've never seen Australians on JobSeeker struggling this much.

ABC News

'You don't want to live anymore.' California's seniors living in poverty struggle without retirement savings

At 61, Linda Fett arrived at the Union Rescue Mission on skid row this year without any savings. After her divorce in 1992, the long-term caregiver used what little money she had to pay bills, including car payments and other expenses, in order to live independently.

Los Angeles Times

This year's election: Only one issue

Of course the economy and reproductive rights are important. But in the shadow of fascism, they almost don't matter

Salon

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House GOP’s Scalise defends Medicare, Social Security plans

Rep. Steve Scalise, R-La., the number two House Republican, defended his party’s approach to Medicare and Social Security, which has become a campaign issue ahead of U.S. midterm elections in November.

Tribune News Service

Social Security boost seen as unlikely to help Dems at polls

The news that 70 million people will see an 8.7% boost in their Social Security checks next year came just weeks before Election Day, but it's unlikely to give Democrats the edge they're desperately seeking at the polls

The Independent UK

White House trolls GOP with Rick Scott's own words

It's a new sign Democrats plan to run against Scott in the final midterm stretch.

Axios

Medicare Open Enrollment Occurs Annually from October to December — Here's What You Need to Know

Medicare open enrollment is underway. Here's what you need to get done.

Kiplinger

Debate audience laughs at Ron Johnson

Johnson was repeatedly laughed at and booed during debate with Lt. Gov. Mandela Barnes

Salon

Buchanan touts business success in bid for Ways and Means slot

Rep. Vern Buchanan is pitching a sharp pro-business focus as he seeks the top Republican spot on the House Ways and Means Committee

Roll Call

Allison Schrager: Enjoy the Social Security bump now. You'll pay later

Social Security is known as the third rail of politics. President Joe Biden has pounced on all who dare even think about curtailing the retirement program. In fact, this week cash-strapped retirees will get the biggest cost-of-living increase in 40 years, an 8.7% boost to protect them from inflation.

Tribune News Service

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The Independent UK

8.7% hike to Social Security checks won't cut it, some fear

In a year when inflation has made Americans’ eyes pop when they fill up their gas or walk down grocery store aisles, many Social Security recipients worry whether the biggest cost-of-living increase in four decades will be enough to cover their needs

The Conversation

Soaring inflation prompts biggest Social Security cost-of-living boost since 1981 – 6 questions answered

Social Security is set to boost the benefits it provides retirees by 8.7%, the biggest cost-of-living adjustment since 1981. It comes as sky-high inflation continues to eat into incomes and savings.

The Independent UK

How Social Security works and what to know about its future

Tens of millions of older Americans will see a major increase in benefits this January when a new cost-of-living adjustment (or COLA) is added to Social Security payments

Chicago Sun-Times

Social Security benefits to jump by 8.7% next year

The Social Security Administration said the estimated average monthly Social Security benefit for all retired workers will be $1,827 starting in January.

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The Guardian - US

Jan 6 hearing updates: panel votes to subpoena Donald Trump – as it happened

Vote represents long-shot effort to compel former president’s testimony – follow the latest

Reason

Inflation Hits 8.2 Percent After Another Month of Sharply Rising Prices

Prices rose by 0.4 percent in September, faster than economists expected and indicating that rising interest rates aren't getting the job done.

Tribune News Service

Social Security benefits see highest jump in 40 years. Here’s what to expect

Social Security beneficiaries are set to get the largest boost to their benefits in four decades.

Axios

Social Security benefits to jump 8.7%, the biggest increase in 40 years

This is the biggest increase in benefits in 40 years and will come out to an average of an additional $140 per month.

The Street

Social Security Administration Boosts 2022 COLA Payment By 8.7% As Inflation Pressures Surge

The U.S. Social Security Administration lifted its cost-of-living adjustment for 2023 by 8.7%, the most in more than four decades, as inflation continues to surge in the world's biggest economy.

Roll Call

Social Security benefits to see biggest boost in four decades - Roll Call

Tens of millions of retirees and disabled workers will see benefits rise by 8.7 percent in 2023, the Social Security Administration reported.

WEKU

High inflation leads to the biggest raise in Social Security in more than 40 years

Retirees and others who rely on Social Security will see a large boost in benefits next year, with the average benefit rising by $141 per month, as inflation stays above 8%.

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