[Congressional Record Volume 167, Number 115 (Thursday, July 1, 2021)]
[Extensions of Remarks]
[Page E730]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




         INTRODUCTION OF THE FAIR COLA FOR SENIORS ACT OF 2021

                                 ______
                                 

                          HON. JOHN GARAMENDI

                             of california

                    in the house of representatives

                         Thursday, July 1, 2021

  Mr. GARAMENDI. Madam Speaker, today I introduced the Fair COLA for 
Seniors Act of 2021, which would require using the Consumer Price Index 
for the Elderly (CPI-E) when calculating cost of living adjustments 
(COLAs) for federal retirement programs. The proposed index would 
adjust the benefits programs such as Social Security, Supplemental 
Security Income, civil service retirement, military retirement, 
veterans' pensions and compensations, and other retirement programs.
  Current law uses the Consumer Price Index for Urban Wage Earners and 
Clerical Workers (CPI-W) which measures costs solely of working 
individuals--unlike most Social Security beneficiaries. Using CPI-W 
does not adequately consider the rising expenditures of retirement, 
such as housing and healthcare costs. This inadequate accounting 
amounts to an effective decrease in benefits for those who rely on 
these federal programs. The proposed change will lead to increased 
COLAs, ensuring that seniors are able to keep up with the rising costs 
of their real-world expenses.
  Madam Speaker, I thank Representatives Pingree (D-ME), Beatty (D-OH), 
Fitzpatrick (R-PA), Strickland (D-WA), Moulton (D-MA), Boyle (D-PA), 
Sablan (D-MP), Napolitano (D-CA), Deutch (D-FL), McNerney (D-CA), 
McCollum (D-MN), Kilmer (D-WA), Brown (D-MD), Pocan (D-WI), Kuster (D-
NH), Speier (D-CA), Eshoo (D-CA), Moore (D-WI), and Cohen (D-TN), Sires 
(D-NJ), Kaptur (D-OH), Lieu (D-CA), Wasserman Schultz (D-FL) for their 
support as original cosponsors. I look forward to working with the 
Chairpersons of the Ways and Means, Veterans' Affairs, Oversight and 
Reform, and Armed Services Committees to ensure this critical piece of 
legislation becomes law.

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