If signed into law, the Consumer Price Index for Elderly Consumers (CPI-E) Act would amend the Social Security Act with regard to the annual cost-of-living adjustment (COLA) for Social Security benefits. Currently, the COLA is based upon the spending patterns of young, urban workers using the CPI for Urban Wage Earners (CPI-W). This legislation would calculate the COLA based on the spending patterns of seniors by using the CPI-E.
Sen. Sherrod Brown (OH) introduced this bill on November 16, 2011. It has since been referred to the Senate Committee on Finance.
Date Posted: November 2011
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