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.
Rep. Charles Gonzalez (TX-20) introduced this bill on January 26, 2011. It has since been referred to the Ways and Means Subcommittee on Social Security and to the Committee on Education and the Workforce.
Date Posted: January 2011