April 22, 2013
U.S. House of Representatives
Washington, D.C. 20515
On behalf of the millions of members and supporters of the National Committee to Preserve Social Security and Medicare, I urge you to cosponsor H. Con. Res. 34, expressing the sense of the Congress that the “chained” Consumer Price Index (CPI) not be used to calculate cost-of-living adjustments (COLAs) for Social Security benefits. We commend Rep. David Cicilline for introducing this resolution.
Social Security is the most successful income security program in our nation’s history. It is an important economic lifeline for millions of America’s most vulnerable people, including seniors and persons with disabilities, as well as their spouses, dependents, and survivors. Social Security has not contributed to the federal debt, and therefore does not belong in a conversation about deficit reduction.
The chained CPI would reduce projected benefits for the oldest and most vulnerable Americans, often older women, who would be least able to afford it. The Social Security Administration estimates that application of the chained CPI would result in a decrease of about $130 per year (0.9 percent) in Social Security benefits for a typical 65 year-old, and $1,400 per year (9.2 percent) by the time that senior reaches age 95.
For these reasons, we urge you to oppose the chained CPI proposal by cosponsoring H. Con. Res. 34. If you have any questions or would like to cosponsor the resolution, please contact William Walsh in Rep. Cicilline’s office at [email protected] or 5-4911.
President and CEO