Nolan Reintroduces Fair COLA for Seniors Act with Endorsement of National Committee to Preserve Social Security and Medicare
U.S. Rep. Rick Nolan today reintroduced his Fair COLA for Seniors Act legislation (H.R.2896) with the backing of the National Committee to Preserve Social Security and Medicare, one of the nation's leading advocacy groups fighting to protect Social Security and Medicare. Nolan’s legislation would provide a one-time, 3.9% mid-year cost of living adjustment (COLA) in the benefits of 59 million Social Security recipients.
The 3.9% payment, which coincides with the average salary increase the heads of America’s 350 largest corporations received from 2013 to 2014, would make up for the fact that Social Security recipients, including more than 100,000 in the 8th District, received a cruelly inadequate automatic adjustment at the onset on 2017.
“We are pleased and gratified to have this organization’s support for our important legislation upon its reintroduction,” Nolan said. “While we continue to fight risky privatization schemes to ensure the integrity of Social Security for generations to come, our Fair COLA for Seniors Act would provide more fairness for the system and give seniors a well-earned boost.”
“At a time when it seems that many Americans can no longer afford to live to be old, Representative Nolan’s COLA legislation is right on time to give seniors some immediate financial relief and future assurance that their Social Security benefits will help them keep pace with their expenses,” said Max Richtman, President and CEO of the National Committee to Preserve Social Security and Medicare. “In our 35 year history, I have never heard a Social Security beneficiary say that they have money left over from their monthly benefit. Most seniors are in need of a COLA boost in order to avoid situations like going without food, cutting pills or falling behind on their bills.”
For the full text of our letter of endorsement, please click here.