Social Security beneficiaries could get bigger yearly raises if prices for seniors rise faster than for workers. The bill picks whichever inflation measure is higher each year — the current one or a new one tracking spending by people 62 and older. It takes effect for adjustments calculated after September 30, 2026.
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Boosting Benefits and COLAs for Seniors Act is a House bill in committee. The latest recorded action: Referred to the Committee on Ways and Means, and in addition to the Committee on Education and Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Latest action on H.R. 5841: Referred to the Committee on Ways and Means, and in addition to the Committee on Education and Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Who this affects: This bill primarily affects the roughly 70 million people who receive Social Security retirement, disability, or survivor benefits, as well as SSI recipients. It could mean bigger yearly benefit increases for these groups if the seniors-focused price index shows higher inflation than the current worker-focused one. The Bureau of Labor Statistics takes on new responsibilities to publish the CPI-E.
Why this matters: Seniors often face faster-rising costs for things like healthcare and housing compared to younger workers. Over many years, even a small annual difference in cost-of-living raises can add up to thousands of dollars in lifetime benefits. This bill tries to keep Social Security benefits closer to what seniors actually pay, but it could also increase spending from the Social Security trust fund.
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