Rep. Massa Supports Plan To Increase Funding For Senior Citizens

Additional $250 for seniors would amount to approximately 2% increase for the average Social Security recipient

10/19/09 -- WASHINGTON, D.C. - Today Rep. Eric Massa voiced his support for President Obama's plan to fund additional $250 payments for seniors, veterans, retired railroad workers and people with disabilities. The payment proposal comes on the heels of a recent government announcement that there will be no Cost Of Living Adjustment (COLA) for 2010 due to falling consumer prices.

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COLA rates are tied to the Consumer Price Index and because of the increased price of gasoline in the summer of 2008, Social Security recipients saw an unusually large COLA adjustment last year. Now that prices have stabilized, the CPI has decreased and thus there is no COLA increase. Because there will be no increase, this proposed idea of making a one time payment of $250 to Social Security and SSI recipients has been introduced.

“Supporting our senior citizens, veterans, retirees and those with disabilities is the right thing to do, especially in these tough economic times,” stated Rep. Massa. “By supporting these additional $250 payments the average Social Security recipient will receive about a 2% increase. I will do whatever I can to fight for our nation's senior citizens because they have worked hard and we owe it to them to look out for their economic security.”

Additionally, Congressman Massa has signed on as a co-sponsor of H.R. 2365, the Consumer Price Index for Elderly Consumers Act of 2009 and H.R. 3672, the Social Security COLA Fix for 2010 Act. H.R. 2365 directs the Bureau of Labor Statistics of the Department of Labor to prepare and publish a monthly Consumer Price Index for Elderly Consumers (CPIEC) that indicates changes over time in expenditures for consumption which are typical for individuals aged 62 years of age or older. H.R. 3672 provides for an increase of $150 in Social Security benefits for one month in 2010 to compensate for the lack of a cost-of-living adjustment for that year, and to amend title II of the Social Security Act to eliminate the requirement that there be a Social Security cost-of-living adjustment for an adjustment in the contribution and benefit base to occur.

Source: Rep. Eric Massa