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Your morning forecast on KPRC 2+

First look at your morning forecast from the KPRC 2 Weather team

3 warnings in effect for 6 counties in the area

See the complete list

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Your morning forecast on KPRC 2+

3 warnings in effect for 6 counties in the area

SOCIAL SECURITY


1 day ago

SNAP recipients will lose their pandemic boost and may face other reductions by March

Congress ended the temporary benefit meant to help low-income households with pandemic-era hardships. A huge increase in Social Security benefits may mean some households see further SNAP reductions.

npr.org
1 day ago

Wait until age 70 to claim Social Security: 'The return on being patient is huge,' says economist

Retirement benefits taken at age 70 are 76% higher, adjusted for inflation, than retirement benefits taken at 62, research finds.

cnbc.com
1 day ago

As some retirees worry about surprises this tax season, these resources may help

Retirees may have complicated returns if they have multiple sources of income. The good news is resources are available to help, and in some cases they're free.

cnbc.com
3 days ago

Social Security, Medicare should be 'off the table' in debt ceiling talks, McCarthy says

Debt ceiling negotiations between Democrats and Republicans should not include Social Security and Medicare, House Speaker Kevin McCarthy said Sunday.

cnbc.com

White House blasts McCarthy for comments on strengthening Social Security, Medicare

The White House hit back after Speaker Kevin McCarthy (R-Calif.) said he wants to โ€œstrengthenโ€ Medicare and Social Security, arguing on Sunday that the House GOP leader and his conference actually want to slash spending on the entitlement programs. McCarthy said in an interview on CBSโ€™s โ€œFace the Nationโ€ earlier Sunday that he wants toโ€ฆ

news.yahoo.com

Trump Finds an Opening Against DeSantis

By playing up hisย consistent vow not to cutย Social Security and Medicare, the former presidentย hopes toย put his chief 2024 GOP rival, who repeatedly voted in Congress to slash both programs,ย on the back foot.

washingtonpost.com

The challenge of slicing the federal budget, visualized

It's much easier to cut spending in the abstract โ€”ย particularly when there are things you won't touch.

washingtonpost.com

Higher Social Security cost-of-living adjustments may affect your taxes. Here's how to plan

Inflation has pushed Social Security's annual benefit increases up to historic highs for the past couple of years. That may trigger a bigger tax bill.

cnbc.com

As debt ceiling deadline looms, here's what it could mean for Social Security and Medicare

If debt ceiling negotiations are unsuccessful, the U.S. could default on its debt. Here's what that may mean for Social Security and Medicare.

cnbc.com

Letters to the Editor: What Republicans should know before they cut Medicare

The deficit has ballooned so much largely because of policy decisions made by Republicans. They are not the party of fiscal responsibility.

news.yahoo.com

โ€˜Not True!โ€™: Joy Reid Shouts Down Byron Donalds as He Predicts Social-Security Collapse

Joy Reid and Byron Donalds got into a heated on-air exchange Tuesday after Donalds pointed out that Social Security will become insolvent in the near future.

news.yahoo.com

When Social Security beneficiaries can expect first checks of 2023 to include 8.7% cost-of-living adjustment

More than 65 million Social Security beneficiaries are getting a boost to their benefits this month. Here's when you can expect those payments.

cnbc.com

'Damaging cuts' to Medicare and Social Security are looking more likely with McCarthy as House Speaker. Here's what it will mean for retirees.

House Speaker Kevin McCarthy made concessions to far-right GOP members to win his seat, which likely include cuts to Medicare and Social Security.

news.yahoo.com

What is FICA and why does it matter for Social Security, Medicare?

Financial Adulting 101: Hereโ€™s why your paycheck is less than you thought it would be.

washingtonpost.com

Approaching age 62? What you need to know about Social Security's 8.7% cost-of-living adjustment and claiming benefits

If you're tempted to claim Social Security retirement benefits early, experts say it may be wiser to wait.

cnbc.com

Trump's tax returns show no Social Security benefit income. Here's what retirees can learn about claiming

The former commander in chief seems to have foregone Social Security benefit income. But you may not want to employ that strategy yourself.

cnbc.com

Social Security numbers of Trump officials, allies posted in Jan. 6 files

The House Jan. 6 committee published the Social Security numbers of several high level Trump officials and allies online.

washingtonpost.com

How To Spot Common Social Security Scams โ€” And Keep Your Money Safe

Knowing a few key things about how scammers operate will help you protect yourself.

scrippsnews.com

The January Inflation Bump Americans Should Welcome

Government adjustments tied to 2022 price increases will boost household incomes by about $200 billion, fueling the economy and staving off a recession for at least a few more months.

washingtonpost.com

500 Reasons to Eliminate the Income Cap for Social Security Taxes

Taxing income only up to $160,200 for Social Security is leaving a lot of revenue on the table.

washingtonpost.com

Consumers are getting payments from Equifax data breach settlement. Hereโ€™s what to expect if you filed a claim

Individuals who filed a claim for up to $125 started receiving payments Dec. 19. However, the amount of those payments may be far less than the maximum.

cnbc.com

Spending bill aids retirees, and boosts financial industry

A section of the new $1.7 trillion spending bill from Congress has been billed as a dramatic step toward shoring up retirement accounts of millions of workers.

Social Security COLA increase: Here's when you'll get your 8.7% hike

Seniors and other recipients are getting the biggest bump since 1981. But tax and Medicare issues may complicate things.

cbsnews.com

Average Social Security retirement benefit fell short by 46% in 2022. Here are the costs the went up the most

High inflation outpaced a record Social Security cost-of-living adjustment this year. Here's the prices that rose the fastest for households ages 65 and up.

cnbc.com

Social Security 2023 benefit increase: Payment dates for your 8.7% hike

Seniors and other recipients are getting the biggest bump since 1981. But tax and Medicare issues may complicate things.

cbsnews.com

Working at 76: Inflation forces hard choice for older adults

Higher prices throughout much of 2022 have taken their financial toll on older adults in particular.

Here's when Social Security checks featuring the massive 2023 COLA increase will start arriving

The first Social Security checks and bank deposits featuring the largest cost-of-living-adjustment in 40 years will start arriving in January.

news.yahoo.com

Worried about Social Security benefit cuts? How calculators may help gauge how changes may affect you

To get an idea of how much any retirement benefit cuts may affect you, using a reputable Social Security calculator can help.

cnbc.com

Holiday gift ideas for seniors to buy now

Not sure what to give the seniors in your life this holiday season? Here are four helpful suggestions.

cbsnews.com

This frequently used Social Security strategy could cost you $182,000

Americans "have to change their thinking" about the government benefits program to get the most out of it, one expert says.

cbsnews.com

This common Social Security strategy could cost you $182,000

Americans "have to change their thinking" about the government benefits program to get the most out of it, one expert says.

cbsnews.com

Biden administration extends payment pause on student loan debt

The Biden administration announced that it will extend the payment pause on federal student loans while its forgiveness plan remains blocked in the courts.

cnbc.com

Even as the midterm election results were 'positive for seniors,' some worry about Social Security amid debt ceiling negotiations

The midterm election results were "positive for seniors." Yet some say a fight over Social Security could still be brewing with debt ceiling negotiations.

cnbc.com

Social Security left at-risk Americans behind in pandemic, report finds

The abrupt halt to almost all in-person operations at the Social Security Administration during the pandemic was debilitating for the most vulnerable Americans, a report found.

washingtonpost.com

Republicans want to push Social Security, Medicare eligibility age to 70

House Republicans who may regain majority in midterm elections say "miracle" of longer lives necessitates raising retirement age.

cbsnews.com

How to fix Social Security and Medicare? GOP wants to raise benefits age to 70

House Republicans who may regain majority in midterm elections say "miracle" of longer lives necessitates raising retirement age.

cbsnews.com

Tim Ryan raises beer can during pre-midterms MSNBC hit: 'We're gonna bring it home'

Rep. Tim Ryan decided to hold up a beer can during his interview on MSNBC on Monday. The Ohio Senate candidate told host Lawrence O'Donnell "we're gonna bring it home."

foxnews.com

Washington Post gives Biden a 'bottomless Pinocchio' in fact-check of several misleading claims

The Washington Post's Fact Checker gave President Biden a "bottomless Pinocchio" on Monday for claiming he traveled 17,000 miles with Xi Jinping on Nov. 3.

foxnews.com

Obama tells Democrats 'Sulking and moping is not an option' ahead of midterm elections

Democrats at campaign rallies over the weekend warned their base that the GOP could put abortion access and democracy at risk if Republicans take control of Congress.

foxnews.com

President Joe Biden stumps for Rep. Lauren Underwood in Joliet, says Republicans pose threat to Social Security and Medicare

President Joe Biden was in Joliet Saturday campaigning for Rep. Lauren Underwood, part of a two day Illinois swing to bolster tightening congressional races.

chicagotribune.com

5 key personal finance issues this midterm election season โ€” and what they mean for your wallet

Here are some of the most pressing personal finance issues for the midterm elections โ€” and how Tuesday's results may affect your wallet.

cnbc.com

Hawley shoots down GOP talk of using debt limit as leverage on Social Security, Medicare

Sen. Josh Hawley of Missouri rejected an idea to use debt limit as leverage for Social Security and Medicare negotiations, calling it "dumb."

foxnews.com

Manchin calls for deal on Social Security, Medicare, Medicaid in new Congress

Centrist Sen. Joe Manchin (D-W.Va.) on Thursday called for a broad bipartisan deal to protect the solvency of Social Security, Medicare and Medicaid, popular programs that face serious funding issues over the next few decades. โ€œYouโ€™re going to get your financial house in order. We cannot live with this crippling debt,โ€ Manchin, whose pivotal voteโ€ฆ

news.yahoo.com

Looks Like Sean Hannity Was Caught In A Big Fat Lie

The Fox News host's claim about Social Security sent Twitter to the tape.

news.yahoo.com

Twitter praised for fact-check on White House account: โ€˜Fact checks are getting factual now!โ€™

Conservatives praised Twitter for putting up a fact-check on one of the White House's latest tweets touting its alleged achievements in Social Security policy.

foxnews.com

White House deletes tweet flagged by Twitter that credited Biden for Social Security payment increase

The White House took down a tweet Wednesday that gave President Biden credit for rising Social Security payments that are the result of 40-year high inflation.

foxnews.com

As Election Day approaches, Democrats warn of possible repercussions for Social Security and Medicare

Democrats, including President Joe Biden, have said the midterm election may shape two government programs retirees rely on, Social Security and Medicare.

cnbc.com

This Social Security quiz can help test how much you know about benefits before you claim

Deciding when to collect Social Security benefits may be the biggest retirement decision you make. This quiz can help test how much you know about the program.

cnbc.com

Democrats shift toward economic attacks, with abortion leaving some unmoved

Efforts by Democrats to broaden their attacks on Republicans beyond abortion come amid growing GOP confidence about winning back control of the House and Senate.

washingtonpost.com

Matt Yglesias says Trumpโ€™s policies are โ€˜not that extremeโ€™ and โ€˜much more moderateโ€™ than Romneyโ€™s

Liberal political journalist Matthew Yglesias said Donald Trump's policy views were "just not that extreme," rejecting a popular media narrative.

foxnews.com

Most popular baby names in Texas: 2022 predictions released

Using Social Security data for first names from 2022 SSN card applications for U.S. births, Names.org predicted the most popular baby names in the country and each state for this year.

lmtonline.com

Education Department could flag up to 5 million student loan relief applications for review โ€” what to do if yours is among them

Between 1 million and 5 million student loan borrowers who apply for forgiveness may be asked to provide additional information to verify their eligibility.

cnbc.com

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.

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.

Social Security benefits to jump by 8.7% next year

Millions of Social Security recipients will get an 8.7% boost in their benefits in 2023.

Social Security boost will help millions of kids, too

Itโ€™s not just old people who will get whatโ€™s expected to be the largest cost-of-living adjustment in Social Security benefits in 40 years.

Go-broke dates pushed back for Social Security, Medicare

A stronger-than-expected economic recovery from the pandemic has pushed back the go-broke dates for Social Security and Medicare, but officials warn that the current economic turbulence is putting additional pressures on the bedrock retirement programs.

Liam and Olivia once again dominate top baby names list

Olivia and Liam are once again Americaโ€™s most common baby names.

Medicare urged to flex its power and slash back premium hike

The head of a Senate panel that oversees Medicare says the Biden administration should cut back a hefty premium increase soon to hit millions of enrollees.

EXPLAINER: Why Social Security COLA will jump next year

Rising inflation is expected to lead to a sizeable increase in Social Securityโ€™s annual cost-of-living adjustment, or COLA, for the year 2022.

COVID recession pushed Social Security insolvency up a year

The sharp shock of the coronavirus recession pushed Social Security a year closer to insolvency but left Medicareโ€™s exhaustion date unchanged, the government reported Tuesday.

Taxes: Answers to top FAQs about Social Security income

Even for those of us who think we have some knowledge about anything tax related, it can be a stressful time. And it's certainly not a time when you want to play a guessing game.

Calculate the amount of your next stimulus check with this tool

HOUSTON โ€“ Want to know how much youโ€™ll be getting on your next stimulus check? The Second Stimulus Check Calculator, created by Omni, calculates your upcoming check using your income taxes from 2019 (including your adjusted gross income (AGI) for 2019), the number of children in your household and your filing status. The calculator will be updated if there is any change to the $900 billion rescue package passed on Sunday. Most Americans will receive a $600 stimulus check under the new bill, while others will receive an extra $300 for each child dependent under age 17. To learn more about the calculator and requirements to receive your check, click here.

Retiree checks to rise 1.3% in 2021 amid coronavirus fallout

WASHINGTON โ€“ Social Security recipients will get a modest 1.3% cost-of living-increase in 2021, but that might be small comfort amid worries about the coronavirus and its consequences for older people. The economic fallout from the virus has reduced tax collections for Social Security and Medicare, likely worsening their long-term financial condition. The former vice president would raise Social Security taxes by applying the payroll tax to earnings above $400,000 a year. That amount generally increases, so at least some of any additional Social Security raise goes to health care premiums. That prompted Congress to pass recent election-year legislation that limits next yearโ€™s premium increase but gradually collects the full amount later on under a repayment mechanism.

Hereโ€™s how to make those bogus social security calls stop

HOUSTON โ€“ The coronavirus pandemic shut down a lot of operations, but there is actually one we all wanted to go away: those scam calls claiming to be from the Social Security Administration. If you do call, they will attempt to get you to โ€œverifyโ€ or โ€œconfirmโ€ your social security number. Donโ€™t ever give your social security number to anyone by phone, not even the last four digits. The Social Security Administration will never call you and threaten you with arrest or any other kind of legal action. The Social Security Office of the Inspector General has set up a complaint form to collect information on the calls.

Trump administration allows deferral of Social Security tax

It allows employers to offer their workers a temporary deferral of the 6.2% payroll tax employees pay into the Social Security Trust Fund for the rest of this year. Regardless of the practical impact of Treasurys action, it appears Social Security will be thrust into the election maelstrom. Trump has also teased that if hes reelected he would press for a permanent cut in Social Security taxes. As a candidate in 2016, Trump promised not to cut Social Security and Medicare, and Democrats say he has now abandoned that promise. Administration officials say any legislation would repay the Social Security Trust Fund as well.

Coronavirus pandemic may cause Social Security benefits to dry up even sooner, new model suggests

HOUSTON โ€“ The Social Security Administration (SSA) recently released updated data outlining when it believes the trust funds โ€” which help ensure thereโ€™s enough money to pay full benefits โ€” will run dry. The same day the Social Security Board of Trustees released that information, the Bipartisan Policy Center (BPC) released its own projections. RELATED: Social Security and Medicare funds at risk even before virusWhichever year it ends up being, that year is coming soon and if nothing changes, there will come a time when Social Security recipientsโ€™ benefits will have to be cut. Unemployment : With more than 30 million people out of work due to the coronavirus pandemic, a huge chunk of the population is paying less into Social Security. โ€œSocial Security recipients pay taxes on their benefits if their incomes exceed $25,000 ($32,000 for a couple filing jointly).

When will you get your stimulus cash, and how?

Previous stimulus payments in 2001 and 2008 have been delivered by both direct deposit and checks in the mail, but mobile payment services like Venmo want to play a role this time. The IRS will use your 2019 tax return, if you've already filed it, or your 2018 return to calculate the amount of your payment. Even those who don't normally need to file a tax return may have to in order to receive their payment. Social Security recipients will automatically receive stimulus payThe Treasury Department, clearing up confusion, said Wednesday that Social Security recipients will not have to file a tax return in order to receive the economic stimulus payments the government is preparing to send out. Those who do not receive their Social Security benefits via direct deposit will be sent a paper check.

Social Security recipients can expect a stimulus check

U.S. citizens who receive Social Security benefits can expect to get a stimulus check, according to many reports. โ€œThe proposed bill includes language that allows Americans receiving Social Securityโ€”many of whom are retired and donโ€™t file taxesโ€”to obtain direct financial assistance through the coronavirus stimulus package,โ€ according to Fortune Magazine. To determine their rebate, beneficiariesโ€™ data will be accessed by the government through the Social Security Administration, Fortune Magazine reports. Under the $2 trillion stimulus package, those who qualify will receive the following amounts:$1,200 for a single adult who did not make more than $75,000, according to their filed 2019 taxes. $2,400 for a married couple who filed jointly and did not make more than 150,000, according to their 2019 taxes.

3 Social Security myths that could be costing you thousands of dollars

HOUSTON โ€“ If you plan to rely on your Social Security benefits to get by after retirement, you will likely not have enough to pay your monthly expenses. Making matters worse, there are several Social Security myths that are costing older Americans thousands of dollars in lost benefits. 1:You need their social security benefits now because when you are retirement age, the Social Security system will be dried up. 2:You should take your Social Security benefit early and invest the money each month so that when you need it, you will have earned more. You can also work with a Social Security certified financial consultant to put together a Social Security analysis using your benefit and income information.

Social Security & Tax Breaks

Figuring out what you owe can be complicated, here is some information to understand what is taxable under Social Security. Social Security is taxable at three different levels, based upon how much other income you have and your income tax filing status. This is 50% of your household Social Security benefits plus all of your other taxable income, plus any tax-free income. These breakpoints are the same if your filing status is Married Filing Separately and the couple does not live together during the tax year. If your Provisional Income (defined above) is less than the first breakpoint based on your filing status, then none of your Social Security is taxable.

Helpful phone numbers for Health Care Reform questions

Helpful phone numbers for Health Care Reform questionsPublished: September 30, 2013, 7:11 pmHOUSTON โ€“ Here are some helpful phone numbers to get your Health Care Reform questions answered: Health Insurance Marketplace: 800-318-2596 Medicare 800-633-4227 Medicaid 866-762-2237 Social Security 800-772-1213 SHOP for small business owners 800-706-7893 Check out our full coverage in our Health Care Reform section by clicking here. Copyright 2013 by Click2Houston.com. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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