Senator Russ Feingold (D-WI) and Senator John McCain (R-AZ) introduced legislation of a limited version of the line-item veto. This bill would give the president the power to withdraw earmarks in new bills by sending the bill back to Congress minus the line-item vetoed earmark.ill Clinton echoed the request in his State of the Union address in 1995. Congress attempted to grant this power to the president by the Line Item Veto Act of 1996 to control  pork barrel spending , but in 1998 the US Supreme Court ruled the act to be unconstitutional in a 6-3 decision in Clinton v. City of New York.
The Social Security Administrationâs Office of the Chief Actuary (OCA) has projected, under two out of three of its methods of forecasting, that the Social Security wage base will increase from $118,500 for 2016 to $126,000 for 2017.
We call this annual limit the contribution and benefit base. For earnings in 2015, this base is $118,500. The OASDI tax rate for wages paid in 2015 is set by statute at 6.2 percent for employees and employers, each.ocial Security's Old-Age, Survivors, and Disability Insurance (OASDI) program limits the amount of earnings subject to taxation for a given year. The same annual limit also applies when those earnings are used in a benefit computation. This limit changes each year with changes in the national average wage index.