[Congressional Record Volume 169, Number 21 (Wednesday, February 1, 2023)]
[Extensions of Remarks]
[Page E81]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




         INTRODUCTION OF THE FAIR COLA FOR SENIORS ACT OF 2023

                                 ______
                                 

                          HON. JOHN GARAMENDI

                             of california

                    in the house of representatives

                      Wednesday, February 1, 2023

  Mr. GARAMENDI. Mr. Speaker, today I introduced the Fair COLA for 
Seniors Act of 2023, 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.
  I thank Representatives Jimmy Panetta (CA-19), Steve Cohen (TN-09), 
Lucy McBath (GA-07), Seth Moulton (MA-06), Betty McCollum (MN-04), Lois 
Frankel (FL-22), Raul Grijalva (AZ-03), Brendan Boyle (PA-02), Mary Gay 
Scanlon (PA-05), Dina Titus (NV-01), Chellie Pingree (ME-01), Deborah 
Ross (NC-02), Ilhan Omar (MN-05), Jason Crow (CO-06), Joyce Beatty (OH-
03), Andy Kim (NJ-03), Gwen Moore (WI-04), Ted Lieu (CA-36), and Jamaal 
Bowman (NY-16) 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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