Oct. 22, 2010
Conyers Calls on President to Include Cost of Living Increase for Social Security Recipients in Budget
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FOR IMMEDIATE RELEASE
Contact: Nicole Triplett (202) 225-5543
Washington, D.C.—Today, Representative John Conyers, Jr. (D-MI) sent a letter to President Obama asking for the inclusion of a $500 Cost of Living Adjustment (COLA) supplemental payment for Social Security recipients in his FY 2011 Budget Request. This supplemental payment would make up for the lack of a $250 COLA in both Fiscal Year 2010 and Fiscal Year 2011.
“I was alarmed to learn that there would be no cost of living increase for Social Security recipients in 2011, just as there was no increase in 2010,” said Conyers. “This is an unacceptable development for the millions of seniors who rely on Social Security as a major source of retirement income. In the midst of an economic downturn, the last thing the federal government should be doing is denying seniors a desperately needed source of financial security.”
“The government’s failure to make a supplemental payment adjustment lays bare the flaws in the current COLA calculation system. Seniors are often burdened with significantly higher medical costs as compared to younger Americans, which are not reflected in the Consumer Price Index. To this end, I have cosponsored legislation that would mandate that future COLA calculations account for these higher medical costs. This will ensure that seniors will receive the benefits that they are owed.”
Read the full letter
HERE
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