Boosting Benefits and COLAs for Seniors Act

This bill would change how yearly cost-of-living adjustments (COLAs) are calculated for Social Security and related benefits under titles II, VIII, and XVI of the Social Security Act. Each year, the adjustment would be based on whichever of two price indexes gives the higher increase: the current index for urban wage earners (CPI-W) or a price index for people age 62 and older (CPI-E). The Bureau of Labor Statistics would be required to publish the CPI-E every month. Until it does, an existing research index for Americans 62 and older would be used. Other federal laws that tie their adjustments to the Social Security COLA would keep using the current method, and the changes would apply starting with calculations for periods ending on or after September 30, 2026.

Full text and official record on Congress.gov

Sponsors

• Richard Blumenthal Democrat sponsor
• 9 cosponsors