Guaranteeing Full Social Security Benefits and Accurate Cost-of-Living Adjustments.
This bill legally secures the full amount of Social Security benefits for eligible individuals. It introduces a Benefit Guarantee Certificate, which is a legally enforceable promise by the government to pay the benefits. Crucially, it ensures that annual cost-of-living adjustments (COLA) accurately reflect the increase in living expenses, protecting beneficiaries' purchasing power.
Key points
Establishes a Benefit Guarantee Certificate, representing a legally binding obligation for the government to pay the full Social Security amount.
Guarantees that annual benefit increases (COLA) will be based on an accurate determination of the rise in the cost of living.
The certificate acts as advance budget authority, securing the funding for benefits regardless of future appropriations acts.
Status:
Introduced
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