Bill > HR5841

This bill modifies how cost-of-living adjustments (COLAs) are calculated for Social Security benefits by allowing the use of the Consumer Price Index for Elderly Consumers (CPI-E) instead of the current Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). The bill requires the Bureau of Labor Statistics to create and publish a new CPI-E index that reflects the spending patterns of Americans aged 62 and older, which could potentially result in higher benefit increases for seniors. The changes would apply to cost-of-living computation quarters ending on or after September 30, 2026, and would allow Social Security beneficiaries to use whichever index (CPI-W or CPI-E) results in a higher percentage increase. Additionally, the bill includes provisions to apply these changes to pre-1979 Social Security law and ensures that the new calculation method does not automatically impact adjustments in other laws that currently reference Social Security cost-of-living increases. The bill is titled the "Boosting Benefits and COLAs for Seniors Act" and aims to provide more accurate and potentially more generous cost-of-living adjustments for elderly Americans.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/5841/all-info