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$500 million for the Social Security Administration to process disability and retirement backlogs; $201 million in additional funding for AmeriCorps and other community service organizations; $150 million for Urban and Rural economic recovery programs; $150 million for an increase of claims processing military staff
This tax holiday was intended as an economic stimulus by Obama and the Democrats, [3] with the value of boosting the disposable income of American families. [3] It would not worsen the Social Security program's financial strength, as the shortfall would be made up from general revenues. Some Republicans thus criticized the idea for increasing ...
In response to a possible shortfall in Social Security funding, Obama has endorsed imposition of a new FICA tax on incomes above $250,000. Social Security has an income "cap" beyond which the payroll tax is not collected; in 2015 and 2016, the cap was $118,500. [245] Obama opposed Bush's proposal for privatization of Social Security. [246]
Dwight D. Eisenhower. On Sept. 1, 1954, President Eisenhower dramatically expanded Social Security to include 10 million more Americans in the Old-Age and Survivors Insurance Program.
In laying out details for his new economic stimulus program Wednesday, President Barack Obama regained his political swagger and ramped up his criticism of Republican leaders for failing to ...
Later in the day, President Obama signed an order putting the cuts into effect. He referred to them as being "deeply destructive". [49] March 6, 2013: The House of Representative passed a bill to extend the continuing resolution and to enable defense and veterans programs to adjust to the cuts brought on by sequestration. [50]
The National Commission on Fiscal Responsibility and Reform (often called Simpson–Bowles or Bowles–Simpson from the names of co-chairs Alan Simpson and Erskine Bowles; or NCFRR) was a bipartisan Presidential Commission on deficit reduction, [1] created in 2010 by President Barack Obama to identify "policies to improve the fiscal situation in the medium term and to achieve fiscal ...
Californians who receive Social Security checks are eligible for Golden State Stimulus II payments up to $1,100 ($600 for themselves and $500 for a qualifying dependent) if they meet the ...