Summary
Democratic Senators have introduced two bills to increase Social Security benefits. One bill proposes a $200 monthly rise in payments until July 2026, while the other aims to change how cost-of-living adjustments are calculated. These changes are in response to inflation and the financial needs of retirees.
Key Facts
- Democratic Senators propose raising Social Security payments by $200 a month until July 2026.
- More than 50 million Americans receive Social Security, providing steady retirement income.
- The current inflation rate in the U.S. is 3%, the highest since January.
- President Trump supports strengthening Social Security.
- The Social Security Emergency Inflation Relief Act and the Boosting Benefits and COLAs for Seniors Act are under consideration in Congress.
- The second bill suggests changing how annual cost-of-living adjustments are calculated from CPI-W to CPI-E, which better reflects retiree expenses.
- Senator Elizabeth Warren criticizes spending abroad versus domestic support for seniors.
- The Senior Citizens League, an advocacy group, supports changing the COLA formula to better benefit seniors.
