Today, Ways and Means Social Security Subcommittee Chairman Earl Pomeroy (D-ND) introduced H.R. 5987, The Seniors Protection Act of 2010. The bill would assist 57 million American seniors, retired and disabled veterans, and disabled individuals with a one-time $250 payment that they deserve in the event that no inflation adjustment is announced this Fall.
“Seniors did not cause the near meltdown of the economy that occurred in the last days of the prior Administration, yet too many are still feeling the brunt of its fallout,” said Ways and Means Social Security Subcommittee Chairman Earl Pomeroy (D-ND). “Today we help seniors across the country who face the likely possibility that on October 15th Social Security will announce for the first time ever—as a result of a long-standing statutory formula—that there will not be a cost-of-living-adjustment in Social Security benefits in back-to-back years.”...
Chairman Pomeroy pledged: “This bill is responsible to seniors and to taxpayers. The authors are committed to fiscal responsibility and will ensure that the Seniors Protection Act of 2010 shall not cause an increase in the federal deficit. When the bill comes to the House floor it will include the necessary offsets to comply with the PAYGO law.”
Jul 30, 2010
I Thought This Might Be Coming
From a press release:
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3 comments:
Yeah, a chicken in every pot. Regardless of whether they are hungry or not. Enjoy your retirement starting in January 2011 Mr. Pomeroy.
Why the hell have the law to figure the COLA, if they are going to give out money regardless. Might as well go back to Congress voting on the increase each year.
I won't be getting $250, but I have to question the accuracy of the COLA computation when it doesn't take into account the increases in anyone's mortgage payments, including school taxes - a biggie.;
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