As an AARP member and one of your constituents, I’m asking you to keep the Social Security cost-of-living adjustment (COLA) strong.
Right now, prices are skyrocketing for everyday necessities like groceries and utilities. This year’s COLA will increase Social Security payments, on average, $75 a month beginning in 2027. However, most older Americans say it isn’t enough. Most people say they would need a COLA of 5-8% to keep up with inflation.
Yet out-of-touch DC insiders continue to push proposals to cut or reduce Social Security’s COLA. Just think what would have happened under some of their so-called “fixes” back in 2013, the last time COLA changes were under active consideration:
- Under the Chained CPI, an average retiree would have lost $3,680 total, including $600 this year alone.
- Under the “flat-rate” COLA, an average retiree would have lost $10,400 total, including $1,680 this year alone.
Cutting the COLA is unacceptable, and it couldn’t be more out of touch with the realities Americans are facing as their grocery bill, rent, and utilities continue to increase. Plus, 81% of older Americans reject the idea of cutting Social Security to “save” it.
As your constituent, I ask that you oppose any plan to cut Social Security’s COLA and that you instead protect and strengthen Social Security for the 70 million Americans who rely on it to thrive, and the future generations who will.