Boosting Benefits and COLAs for Seniors Act
Rep. Budzinski Introduces Boosting Benefits and COLAs for Seniors Act to Raise Social Security Payments
This bill is currently in the early stages of the legislative process and has been sent to two House committees for review. It is actively moving forward as it waits for these committees to study the proposal. There are no upcoming votes scheduled at this time.
Legislative Progress
While popular with voters, bills that increase Social Security spending often face strong opposition in a divided Congress due to concerns about the program's long-term funding.
Key Points
Impact Analysis
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Life & Work
The bill applies to Title VIII of the Social Security Act, which covers Special Benefits for Certain World War II Veterans. This is a very small group of veterans who receive these specific benefits, but they would also get the higher COLA calculation. The bill specifically excludes other programs that tie their adjustments to Social Security COLAs, so most veterans' benefits through the VA would not be directly affected.
“other than in this title, title VIII, or title XVI”
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Referred to the Committee on Ways and Means, and in addition to the Committee on Education and Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Introduced in House
The bill was officially filed and given a number. It now enters the legislative queue.
Votes
No votes have been recorded for this legislation yet.
Related News
3 articles
New Bill Would Change How Social Security COLAs Are Set
Introduced by Sen. Richard Blumenthal and Rep. Nikki Budzinski, the Boosting Benefits and COLAs for Seniors Act would require the SSA to use the CPI-E or CPI-W, whichever is greater, to calculate annual raises. Advocates argue the current CPI-W under-measures healthcare costs for retirees.
New Bill Targets Social Security COLA Formula
The Boosting Benefits and COLAs for Seniors Act would direct the SSA to adjust benefits based on the Consumer Price Index for the Elderly (CPI-E) instead of the CPI-W. Supporters say the CPI-E better reflects seniors' spending on medical expenses, which often rise faster than general inflation.
Boosting Benefits and COLAs for Seniors Act: What you need to know
This legislation proposes changing the Social Security COLA calculation to the CPI-E. While it could result in larger monthly checks, experts note it would also increase program costs. The bill also requires the Bureau of Labor Statistics to publish the CPI-E monthly for better transparency.
Source Information
Document Type
Congressional Bill
Official Title
Boosting Benefits and COLAs for Seniors Act
Data Sources
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(3)Analysis generated by AI. Always verify with official sources.