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Washington leaders agree Social Security needs to be fixed — but proposed tax increases are a key sticking point

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Washington leaders agree Social Security needs to be fixed — but proposed tax increases are a key sticking point


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Congressional leaders can agree on one factor — Social Safety must be mounted earlier than this system’s funds are unable to pay full advantages in 2035.

However that’s the place the consensus ends.

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Leaders from each the Republican and Democratic events have every not too long ago mentioned the difficulty on Capitol Hill.

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That was prompted partly by the discharge of the annual Social Safety trustees report, which included the brand new projected 2035 date for when this system’s mixed funds will grow to be depleted. At that time, 80% of advantages shall be payable.

The brand new date is one yr later than projected final yr. But this system nonetheless has a 75-year deficit.

Home Republicans held a gathering final week to debate their rivalry that “Democrats’ dangerous proposal fails to place Social Safety packages on a sustainable footing.”

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“Republicans need to shield Social Safety for present beneficiaries and future generations — and if potential save Social Safety as soon as and for all,” mentioned Rep. Kevin Brady, R-Texas, Republican chief of the Home Methods and Means Committee.

That adopted a June Senate listening to that coincided with the proposal of a brand new invoice to reform this system put ahead by Sens. Bernie Sanders, I-Vt.; Elizabeth Warren, D-Mass., and others.

“Our job, for my part, is to not lower Social Safety, is to not elevate the retirement age, as a lot of my Republican colleagues would have us do,” Sanders mentioned on the listening to.

“Our job is to develop Social Safety so that everybody in America can retire with the dignity that she or he deserves and that each particular person on this nation with a incapacity can retire with the safety they want,” he mentioned.

Why tax will increase are a sticking level

The most recent Social Safety trustees report might underestimate the precariousness of Social Safety’s monetary outlook. As a result of the report was based mostly on knowledge by means of February, it doesn’t account for top inflation within the months since.

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To repair this system, lawmakers usually have a alternative of elevating taxes, reducing advantages or a mixture of each.

Democrats’ proposals firmly advocate for tax will increase, whereas considerably rising advantages. The plans name for elevating payroll taxes, that are used to fund Social Safety, so as to make advantages extra beneficiant. Presently, employees and employers every pay 6.2% on wages as much as $147,000 in 2022.

To get actual progress, it should require folks sitting down throughout the desk from one another and speaking …

Shai Akabas

director of financial coverage on the Bipartisan Coverage Heart

One Democratic plan proposed by Rep. John Larson of Connecticut, the Social Safety 2100 Act: A Sacred Belief, would reapply payroll taxes beginning at $400,000 and up.

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The plan put ahead by Sanders and Warren would reapply these taxes at wages over $250,000, amongst different tax will increase.

However Republicans at each hearings indicated these tax proposals have been nonstarters. Of their assembly final week, Republican Home leaders emphasised the adverse results larger payroll taxes might have on small companies.

Rep. John Larson, D-Conn., and different lawmakers talk about the Social Safety 2100 Act, which would come with elevated minimal advantages, on Capitol Hill on Oct. 26, 2021.

Drew Angerer | Getty Photos Information | Getty Photos

“In the event you assume taxing the rich goes to save lots of Social Safety, you are fallacious,” Sen. Lindsey Graham, R-S.C., mentioned on the June Senate listening to.

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As an alternative, Graham, who not too long ago acquired his personal first Social Safety verify, mentioned the wealthier might should take a “little much less” in advantages. As well as, the retirement age will seemingly have to be raised for youthful people who find themselves residing longer, he mentioned.

“In the event you requested me to take rather less to save lots of Social Safety for individuals who want it greater than I do, rely me in,” Graham mentioned. “It should take that type of dedication from all of us.”

Why a bipartisan answer is elusive

On the Home assembly final week, Rep. Jodey Arrington, R-Texas, requested, “Can we do that as Republicans solely by means of reconciliation or another mechanism?”

The reply isn’t any. And that additionally goes for proposals put ahead by Democrats.

On the Senate listening to, Republican leaders like Sen. Mitt Romney, R-Utah, emphasised the necessity for bipartisanship. “If we do not give you a bipartisan answer, we is not going to put it aside,” Romney mentioned.

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Romney has proposed a bipartisan invoice known as the TRUST Act that may create bipartisan committees to give you modifications to resolve this system’s woes. Advocates for increasing this system complain that might result in selections to learn cuts that occur behind closed doorways.

Sen. Rick Scott, R-Florida, has additionally acquired pushback on his proposal that may sundown this system each 5 years.

“I’ve proposed that Congress rightly overview these packages,” Scott mentioned on the Senate listening to.

“I am by no means going to help cuts to Social Safety, Medicare or Medicaid,” he mentioned.

Nonetheless, the largest problem shall be getting either side of the aisle to agree on reforms.

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In an announcement after final week’s Home listening to, Larson invited Republicans to hitch in supporting his proposal aimed toward defending advantages and enhancing this system. “I encourage my Republican colleagues to hitch us in our efforts to assist America’s seniors, youngsters and other people with disabilities,” Larson mentioned.

Severe discussions between the events — reasonably than battling proposals — shall be essential to get one thing performed, mentioned Shai Akabas, director of financial coverage on the Bipartisan Coverage Heart.

“To get actual progress, it should require folks sitting down throughout the desk from one another and speaking by means of what these points appear to be and what potential bipartisan options are,” he mentioned.



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Washington

Crews fighting fire at scrap yard in Washington County

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Crews fighting fire at scrap yard in Washington County


WASHINGTON COUNTY, Ohio (WTAP) – First responders are on the scene of a fire at a scrap yard in Washington County.

Not much information is known at this time, but what we do know is the fire is at Guernsey Scrap Recycling.

According to the Reno Volunteer Fire Department Fire Chief Jon Bradford, departments from Reno, Williamstown, Devola, Salem, Little Muskingum, and Marietta are on the scene. All of those departments are shuttling water to the scene.

Scrap yard fire(none)

The fire is contained in one area of the facility. Reno VFD is using the MOV Drone Works drone to help fight the fire. The owner of the scrap yard is in a crane helping to move items to assist firefighters.

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It is not known what started the fire. And Chief Bradford says nobody was injured, and nobody is at risk.

WTAP has a reporter on the scene and will have more information as it becomes available.

See an error in our reporting? Send us an email by clicking here!



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Jayden Daniels Will Keep Commanders Competitive vs. Lions

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Jayden Daniels Will Keep Commanders Competitive vs. Lions


The Washington Commanders have made many changes to go from a four-win team to three wins away from winning the Super Bowl, but none have been more impactful than drafting quarterback Jayden Daniels with the No. 2 overall pick.

Daniels may be a rookie, but he plays like an established veteran. That’s why Bleacher Report writer Maurice Moton believes that the Commanders will be competitive this weekend against the 15-2 Detroit Lions in the Divisional Round.

“The Commanders slowed down the Buccaneers’ third-ranked offense in a road victory last week, and Daniels helped position them to kick the game-winning field,” Moton writes.

“Head coach Dan Quinn and coordinator Joe Whitt have molded the team’s defense into a respectable unit throughout the season. In clutch moments, Daniels is far beyond his years.

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“Washington won’t shut down the Lions offense, but along with Daniels, it can do enough to keep the score margin in the single digits.”

The Commanders are still underdogs since the Lions have arguably been the best team in the NFL this season, but Daniels won’t allow Washington to fold. He hasn’t done so yet, so there’s no reason why it would happen now.

Kickoff between the Commanders and Lions is scheduled for tomorrow at 8 p.m. ET.

Stick with CommanderGameday and the Locked On Commanders podcast for more FREE coverage of the Washington Commanders throughout the 2024 season.

• Commanders Preparing for Lions OC Ben Johnson Who Will ‘Test Your Discipline’

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• Dan Quinn Details Commanders Rookie’s Performance in Playoff Game, He Was Impressed

• What Lions’ Amon-Ra St. Brown Said About Commanders WR, It’s Come Full Circle

• Analyst Predicts Commanders Upset vs. Lions



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George Washington stays unbeaten with 68-41 victory at Capital – WV MetroNews

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George Washington stays unbeaten with 68-41 victory at Capital – WV MetroNews


CHARLESTON, W.Va. — A Capital team short on experience and playing for the first time since New Year’s Eve faced quite a challenge Thursday night as it welcomed one of the state’s most polished teams in nearby rival George Washington.

The Patriots showed no sign of letting a nearby rival hang around and continued their stellar start to the season by never trailing in a resounding 68-41 victory.

“Shooting takes pressure off how we have to defend, but our defense has been the key to everything we’ve done to this point,” veteran GW head coach Rick Greene said.

The result prolongs GW’s unbeaten start to the season through at least its first eight games.

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This one was never in doubt as the Patriots’ combination of efficient offense and lockdown defense left the Cougars playing catch-up throughout.

GW’s Chuck Kelley accounted for the game’s first two field goals and scored his team’s first six points, before Gale Lamb got in on the action and went on a personal 7-0 run that upped the Patriot lead to 14-4.

David Robinson, who led Capital with 17 points, scored five in the opening frame to keep his team within striking distance as it faced a 14-7 deficit entering the second.

After Capital’s Grant Barclay provided a bucket to start the second quarter, it was all GW the remainder of the opening half.

Lamb hit a pair of three-pointers around a Kelley transition layup, forcing the Cougars to call timeout 5:05 before halftime as they trailed 22-9.

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At that point, Lamb was 5 for 5 with 14 points.

“He didn’t take a shot he couldn’t hit,” Greene said. “He is a really good shooter and he’s shooting with a lot of confidence. The kids want him to shoot the ball, so if you’re a shooter and you know your teammates want you to shoot it, it gives you that little bit of freedom and relaxation.”

Out of the break in the action, GW’s Noah Lewis scored inside twice, with teammate Sai’Vyon Brown knocking down a three in between. It was 29-9 at that point, and Kelley accounted for the final points of the half on a follow-up basket to send the visitors to the locker room with a commanding 33-11 advantage.

While Lamb and Kelley were both 5 for 5 with 24 combined points through two quarters, the Cougars were shooting 5 for 16 and being out-rebounded, 15-5.

“The guys coming off the bench are trying to match the defensive intensity of the first five, and that’s making us really good,” Greene said.

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Kelley picked up where he left off to start the second half, scoring five points over the first 1:03.

Capital (2-4) upped the pace itself and Trevaun Tyson was the main beneficiary, scoring all nine of his points in the third quarter.

The Cougars doubled the first-half field goal total in the third period alone, making 10-of-15 shots to keep pace with the Patriots for that 8-minute stretch.

“It was a nice conversation at halftime,” Capital head coach Cookie Miller said. “We got them going a little bit and we have to come out like that at the beginning. It was a rough 18 days, but that’s not excuse. We had great practices for us to give that showing, but at the end of the day, hats off to them for knowing their plays and getting into things. They’ve been together for a long time.”

Unfortunately for Miller’s team, Lamb maintained his efficient play and scored nine points in the frame to spark GW’s 22-point quarter.

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That allowed the Patriots to lead 55-32 entering the fourth, and they cruised from there.

GW made 25-of-44 shots to shoot better than 56 percent. Lamb led all players with 24 points and made 7-of-8 shots. Kelley was also 7 for 8 and scored 15.

Noah Lewis chipped in with seven points and a game-high 10 rebounds, while Jeff Harris added five points and eight boards. That duo was instrumental in allowing GW to finish with a convincing 36-16 rebounding edge.

Tyson had half of his team’s boards. 

The Cougars made 18-of-45 shots, but only one three-pointer to the Patriots’ five.

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“Those guys have been together for a long time. Kudos to them,” Miller said. “Greene has them moving and doing what they’re supposed to doing. We’re trying to get on their level and soon we will be on their level.”



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