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Dear Supporter,
Next year’s tiny 2.5% Social Security Cost-of-Living Adjustment (COLA) is a huge disappointment for the average beneficiary who will see an extra $49 more in benefits each month. It’s the lowest Social Security COLA retirees have received in four years (2020 saw a 1.3% increase). And higher Medicare premiums are expected to eat into the COLA increase for 2025.
That’s why I’m asking you to sign our urgent Petition to Congress today ( [link removed] ), putting pressure on your member of Congress to act without delay to pass U.S. Representative John Garamendi's (CA-08) bill, called the “Fair COLA for Seniors Act” (H.R. 716) ( [link removed] ), which would ensure seniors receive a fairer and more adequate COLA every year.
This important bill would be a critical first step in fixing the current COLA formula which is woefully inadequate for calculating the true impact of inflation on seniors’ wallets. It especially under-represents the rising costs that retirees pay for expenses like health care, prescription drugs, food and housing.
It’s ironic that as millionaires, billionaires and huge corporations continue to profit from the Trump-GOP tax law of 2017, America’s seniors are asked to get by with a 2.5% COLA which is barely enough to pay for a bag of groceries. Meanwhile, big pharmaceutical corporations are raking in record profits by hiking the price of lifesaving prescription drugs relied on by older Americans.
The health and financial security of millions of Americans depends on getting a fair and accurate COLA next year and every year.
With just weeks left in the current legislative session, please help us get this critical bill over the finish line by signing our Urgent Petition to Congress today! ( [link removed] )
Sincerely,
Max Richtman
President & CEO
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