If signed into law, H.R. 3588 would base Social Security cost-of-living adjustments on the Consumer Price Index for the Elderly, and it would ensure a minimum annual increase of 3%.
Rep. Eliot Engel (NY-16) introduced H.R. 3588 on September 22, 2015. It has since been referred to the Committee on Ways and Means and to the Committee on Education and the Workforce.