“In these difficult economic times it is important that we provide all social security recipients with a COLA increase next year,” said Delahunt. "I will work closely with my colleagues in the House to ensure that beneficiaries receive a fair increase in their Social Security benefits in 2010.”
In 2010, millions of seniors could see their Social Security checks shrink because – for the first time since 1975, when Congress enacted the automatic annual Cost-of-Living-Adjustment (COLA) for Social Security payments – there will be no cost-of-living adjustment.
Delahunt is concerned that monthly benefits would decrease because the costs of Medicare prescription drug premiums, which are deducted from Social Security payments, are scheduled to increase. Others will see no change or no increase in benefits next year, leaving millions of seniors struggling in this difficult economic climate. Nearly 70 percent of beneficiaries depend on Social Security for at least half of their income, and Social Security is the sole source of income for 15 percent of recipients.
The legislation Delahunt sponsored today, H.R. 3597 the Emergency Senior Citizens Relief Act, authored by Senator Bernie Sanders of Vermont and U.S. Rep Peter DeFazio of Oregon will provide a one-time payment of $250 to all Social Security recipients, including Old age, survivors, and disability insurance (OASDI) retirees, railroad retirees, Social Security beneficiaries, and veteran pension beneficiaries.
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