The Washington Hotline
The Washington Hotline
Week of August 14, 2006
The president signed the Pension Protection Act of 2006 into law on Thursday. Pensions are the backbone of retirement savings and ensuring their viability is essential to the financial future of the 44 million Americans who have defined benefit pension plans. This new law will provide sweeping reforms to our worker pension law and ensure that working families know that their hard earned dollars invested in pensions and retirement savings are secure.
On Capitol Hill
Medicare Update
This week the Centers for Medicare and Medicaid Services (CMS) announced that the average premium for Medicare prescription drug coverage next year would be around $24 a month, which is the same as this year and 40 percent less than first estimated for 2007.
Whether it's the goal of local seniors to lower their drug costs, have complete coverage or convenient access, they finally have the opportunity to choose a drug plan that will meet their needs. I encourage all seniors to take advantage of this new drug benefit and consider enrolling in a plan to continue receiving needed prescription drugs, and in turn, saving money.
Facts on Medicare Part D.
Drop in 2006 Deficit Estimate
The Congressional Budget Office (CBO) announced on Thursday that its deficit forecast for 2006 declined to $260 billion, down from last year's deficit of $319 billion. The successes of the pro-growth policies enacted by Congress are further reflected in this news - surging revenues and a strong economy have clearly reduced the deficit to its lowest level in four years. This report confirms Congress is making some real progress in driving down the federal budget deficit and we will continue to take appropriate action to move forward on a path of solid growth, restrained spending and falling deficits.
Summary of the Report.
In District
Farm Bureau Meeting
On Monday, I will be attending the Armstrong County Farm Bureau legislative meeting in Kittanning. Farming is a time-honored way of life for many in western Pennsylvania. The industry ranks among the largest in the region and contributes to the economy by providing jobs and quality products. On Monday I will meet with local Farm Bureau representatives and discuss any issues or assistance they may need to continue to thrive within their livelihood.
3rd District Services
Don't forget, my 3rd district staff can assist local residents with problems they might have with federal agencies such as Social Security, Medicare, military and veteran's affairs and immigration. U.S. Flags can be purchased through my office and we can even assist you with your visit to the nation's capital. For more information contact one of my offices today.