legislation: 116-hr-7765

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bill_id congress bill_type bill_number title policy_area introduced_date latest_action_date latest_action_text origin_chamber sponsor_name sponsor_state sponsor_party sponsor_bioguide_id cosponsor_count summary_text update_date url
116-hr-7765 116 hr 7765 COLA Act of 2020 Social Welfare 2020-07-23 2020-07-23 Referred to the Subcommittee on Social Security. House Rep. Walberg, Tim [R-MI-7] MI R W000798 0 Certainty for Older Living Americans Act of 2020 or the COLA Act of 2020 This bill sets out an alternative method to calculate cost-of-living adjustments for Old-Age, Survivors, and Disability Insurance benefits and requires the Social Security Administration to use whichever method results in a greater increase each year. The current method is based on the annual change in the Consumer Price Index for Urban Wage Earners and Clerical Workers, which may result in no or small increases to benefits in years with deflation or low inflation. The alternative method established by this bill is based on a 10-year average of cost-of-living adjustments. 2023-01-11T13:45:50Z  

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