Bill > S3974

This bill, titled the Boosting Benefits and COLAs for Seniors Act, aims to amend the Social Security Act to require the Commissioner of Social Security to use the Consumer Price Index for Elderly Consumers (CPI-E) instead of the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) when determining cost-of-living adjustments (COLAs) for Social Security, Supplemental Security Income (SSI), and other benefit programs. The CPI-E is designed to better reflect the spending patterns of older Americans, who often face higher costs for healthcare and other expenses. The bill also includes provisions to apply this change to pre-1979 Social Security law and ensures that other laws using COLAs are not affected by these amendments. The bill directs the Bureau of Labor Statistics to publish the CPI-E and provides a transition period before its full implementation in September 2024.

Budget and Finance

https://www.congress.gov/bill/118th-congress/senate-bill/3974/all-info