Guaranteed 3 Percent COLA for Seniors Act of 2019

2019-06-20

Introduced in Senate

Guaranteed 3 Percent COLA for Seniors Act of 2019

This bill revises the method used to calculate cost-of-living adjustments for certain Old Age, Survivors, and Disability Insurance benefits. Specifically, the Bureau of Labor Statistics must develop a price index that tracks the spending patterns of older consumers for purposes of calculating the cost-of-living adjustment. Individuals over 62 must receive, at minimum, a 3% annual cost-of-living increase.

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