The Social Security Administration recently confirmed there wouldn’t be an annual Cost-Of-Living Adjustment (COLA) increase to benefits next year. This is the third time in seven years that Social Security beneficiaries won’t receive a COLA, because inflation is lower than one year ago.
TSCL recently delivered a letter to Congress stating:
“Today’s COLA announcement will have a devastating impact on the long-term adequacy of Social Security benefits for millions of Americans. The Senior Citizens League (TSCL), along with its one million members nation-wide, believes Congress must take action before the end of this year to ameliorate the ill effects of next year’s zero COLA.”
TSCL applauds recent debt legislation which rolls back the expected jump in Medicare Part B premiums. However, there was still no Emergency COLA relief. Please help us tell Congress to pass and Emergency COLA. Send an email to your Members of Congress here.
Sources: “Budget Talks May Need Billions For Medicare Fix,” Paul Singer, USA TODAY, October 15, 2015.