Dear John,
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As I’ve written to you about recently, the Republican Study Committee’s (RSC) budget plan for fiscal year 2025 calls for devastating cuts to Social Security and Medicare, while expanding massive tax cuts for the wealthy and huge corporations. Aside from the callous cuts to your earned benefits contained in their plan, there’s also a troubling reference to the Social Security Cost-of-Living Adjustment (COLA) …
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The RSC budget implies making the Social Security COLA discretionary — meaning Congress and the President decide if and when COLAs are provided — not automatically as they are now as a part of a mandatory program.
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The RSC budget suggests the COLA should be lower than current CPI-W but unlike their previous budgets, they don’t specifically say they would implement the chained CPI. What the RSC would do to the COLA would most likely hurt current beneficiaries.
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