Taxes/Social Security Committee Goals
2023 Taxes & Social Security Committee Goals
Taxes
Expand and Ensure Reauthorization of the Workforce Opportunity Tax Credit for Employers.
Ensure that members of the Public Health Service (PHS) and National Oceanic and Atmospheric Administration (NOAA) are treated the same as members of the Armed Forces for tax purposes.
Social Security
Oppose the adoption of a Chained Consumer Price Index (CCPI) for Calculating COLA.
Support medically retired veterans under age 65 who wish to maintain full TRICARE coverage after qualifying for Medicare because they cannot work.
Explore policy solutions to address Social Security retirement protection for caregivers participating in the Program of Comprehensive Assistance for Family Caregivers.
Taxes
Expand and Ensure Reauthorization of the Workforce Opportunity Tax Credit for Employers.
- For employers who hire Guard and Reserve service members.
- For employers who hire disabled veterans.
- For employers who hire military spouses of both Active and Reserve service personnel.
Ensure that members of the Public Health Service (PHS) and National Oceanic and Atmospheric Administration (NOAA) are treated the same as members of the Armed Forces for tax purposes.
- Under the new tax law, reimbursed moving expenses are deductible for members of the armed forces who have orders; members of the Uniformed Services (PHS and NOAA) who receive orders should be treated the same way.
Social Security
Oppose the adoption of a Chained Consumer Price Index (CCPI) for Calculating COLA.
- The adoption of a Chained CPI for calculating Cost of Living Allowances would greatly reduce the benefits of Social Security recipients and military retirees.
Support medically retired veterans under age 65 who wish to maintain full TRICARE coverage after qualifying for Medicare because they cannot work.
- Since TRICARE for Life was established in 2001, this population must pay Medicare Part B premiums to maintain full TRICARE coverage.
- These overlapping health care coverage requirements result in larger out-of-pocket costs and can result in late enrollment penalties if not followed.
Explore policy solutions to address Social Security retirement protection for caregivers participating in the Program of Comprehensive Assistance for Family Caregivers.
- Caregivers receiving Program of Comprehensive Assistance for Family Caregivers (PCAFC) stipend from the VA do not currently have a manner to contribute to Social Security.
- Since the PCAFC stipend is the only source of income for many caregivers, providing a voluntary withholding option would increase their long-term financial security.