A pair of Senate Democrats are urging passage of a bill that would reconfigure the formula used to determine cost-of-living adjustments for seniors and Social Security recipients, a plan that runs counter to a proposal under consideration by the supercommittee.
Sens. Sherrod Brown (D-Ohio) and Barbara Mikulski (D-Md.) introduced the alternative measure on Wednesday that would establish a Consumer Price Index aimed at the specific expenses of seniors instead of the current formula measures the needs of younger, employed individuals.
“Because of an outdated and flawed formula, seniors are seeing their energy, food, and prescription drugs costs rise, while their Social Security checks remain stagnant," Brown said. "With two-thirds of seniors depending on Social Security for the majority of their income, too many seniors are being forced to choose between heating their homes or filling their prescription drugs.”
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