New Bill Introduced in Congress Would Give 37 Million Seniors an Estimated $415 More in Social Security Payments Next Year
WASHINGTON-(Business Wire)-September 17, 2009 - A new bill introduced in the U.S. House of Representatives would give the average beneficiary an additional $415.20 in Social Security payments in 2010, a boost of $34.60 per month.
Without such intervention, the Congressional Budget Office (CBO) forecasts that seniors will see no increase in next year’s checks.
The Emergency COLA Bill (H.R. 3557), encouraged and promoted by TSCL from the beginning, was introduced earlier this week by Rep. Walter Jones (R-NC). The bill would provide a COLA for 2010 equal to the average of the COLA over the past ten years. That average is roughly three percent.
In June, The Senior Citizens League (TSCL) became the first national group to call for an Emergency COLA for 2010. In addition to Rep. Jones’ bill, Vermont Sen. Bernie Sanders announced plans to introduce an Emergency COLA bill, possibly later this month.
“Our nation’s seniors will no doubt be grateful to Rep. Jones for introducing legislation that will help them keep up with inflation,” said Daniel O’Connell, TSCL chairman. “But the work has just begun – we need every senior citizen to immediately contact their entire Congressional delegation and encourage them to pass the Emergency COLA Bill.”
Almost 70 percent of beneficiaries depend on Social Security for 50 percent or more of their income. Social Security is the sole source of income for 15 percent of beneficiaries.
“I am extremely disappointed that our nation's seniors are being refused a modest Social Security COLA in 2010,” said Rep. Jones. “As seniors struggle to pay their mounting bills, Congress needs to reign in unnecessary spending and instead focus on actual needs, like ensuring that our seniors are granted the COLA they need to help make ends meet.”
Since automatic Cost of Living Adjustments went into effect in 1975, seniors have never before failed to get an increase. Without an Emergency COLA, millions of seniors will receive cuts due to the soaring costs of prescription drug plans, which many beneficiaries have automatically deducted from Social Security checks.
With 1.2 million supporters, The Senior Citizens League is one of the nation’s largest nonpartisan seniors groups. Its mission is to promote and assist members and supporters, to educate and alert senior citizens about their rights and freedoms as U.S. Citizens, and to protect and defend the benefits senior citizens have earned and paid for. The Senior Citizens League is a proud affiliate of The Retired Enlisted Association. Visit www.SeniorsLeague.org for more information.
See “Night in America,” our latest video about seniors at risk, at www.YouTube.com/SeniorCitizensLeague.
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