If signed into law, the Guaranteed 3% COLA Act would base Social Security cost-of-living adjustments (COLAs) on the Consumer Price Index for Elderly Consumers, and it would provide an annual COLA of no less than three percent.
Rep. Eliot Engel (NY-16) introduced H.R. 1585 on April 16, 2013. It has since been referred to the Committee on Ways and Means and to the Committee on Education and the Workforce.
