Langevin Statement on the 0.3% Increase for Social Security COLAs
Congressman Jim Langevin (D-RI) released the following statement in response to the announcement that Social Security beneficiaries would receive only a 0.3 percent increase in their monthly benefit next year:
“To put it simply: our seniors deserve better. These are men and women who worked hard their entire lives, paid into the system, and now deserve the opportunity to age with dignity. Social Security is an essential safety net for these seniors, as well as people with disabilities. So many seniors are already living on fixed incomes that barely get them through the month, and this minuscule cost of living adjustment does not reflect the rising costs they face on items like prescription drugs.
“I firmly believe that Social Security COLAs should be tied more closely to the goods and services that seniors utilize. This is why I am a cosponsor of the Protecting and Preserving Social Security Act, which would base COLAs on the Consumer Price Index for the Elderly that more accurately gauges the cost of living for seniors and people with disabilities. Congress must act swiftly to institute reforms and demonstrate our commitment to caring for and supporting our seniors.”