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Higher Social Security Benefits: New Inflation Index for Seniors.

This law changes how annual Social Security Cost-of-Living Adjustments (COLAs) are calculated. The calculation will use the index that better reflects the living costs of older individuals (CPI-E), if it results in a higher percentage increase than the current index. This means retirees and disabled individuals receiving benefits may see larger annual increases that keep pace better with rising prices, particularly healthcare costs.
Key points
Changes the method for calculating Social Security COLAs to one more favorable to older Americans and disabled beneficiaries.
Benefits will increase based on the higher of two inflation indexes: the CPI for Urban Wage Earners (CPI-W) or the new index for consumers aged 62 and older (CPI-E).
The goal is to better align benefit amounts with the actual cost of living for seniors, including health expenditures, potentially increasing their purchasing power.
The Bureau of Labor Statistics (BLS) is mandated to prepare and publish the new Consumer Price Index for Elderly Consumers (CPI-E).
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Additional Information
Print number: 118_HR_8044
Sponsor: Rep. Gallego, Ruben [D-AZ-3]
Process start date: 2024-04-17
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Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Boosting Benefits and COLAs for Seniors Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_8044.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2024-04-17.

What are the main provisions?

Key points include:

  • Changes the method for calculating Social Security COLAs to one more favorable to older Americans and disabled beneficiaries.
  • Benefits will increase based on the higher of two inflation indexes: the CPI for Urban Wage Earners (CPI-W) or the new index for consumers aged 62 and older (CPI-E).
  • The goal is to better align benefit amounts with the actual cost of living for seniors, including health expenditures, potentially increasing their purchasing power.
  • The Bureau of Labor Statistics (BLS) is mandated to prepare and publish the new Consumer Price Index for Elderly Consumers (CPI-E).
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Gallego, Ruben [D-AZ-3].

What is the latest detailed status?

The latest detailed status is: Referred to the Subcommittee on Social Security.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Benefits Economy