Bill114th CongressFiled May 19, 2016Social Welfare
H.R. 5295
Safeguarding Economic Needs Important to Our Retirees through Creating an Ongoing Living Adjustment Guarantee (SENIOR COLA Guarantee) Act of 2016
Bill journey · stage 2 of 5
Under committee review
FiledFiled
CommitteeComm.
PassedFloor
Both ChambersBoth
Became LawLaw
What it doesSummary introduced in house (May 19, 2016)
Safeguarding Economic Needs Important to Our Retirees through Creating an Ongoing Living Adjustment Guarantee (SENIOR COLA Guarantee) Act of 2016
This bill amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to revise cost-of-living computation requirements.
Annual minimum and maximum cost-of-living increases for Social Security beneficiaries shall range between:
- 3% and 4% for individuals whose adjusted gross income (AGI) for the preceding calendar year did not exceed $18,000 ($20,000 in a joint return),
- 1.5% and 3% for individuals whose AGI ranged from $18,000 to $48,000 ($20,000 to $50,000 in a joint return), or
- 1% and 2% for individuals whose AGI exceeded $48,000 ($50,000 in a joint return).
What just happenedJun 2, 2016
Referred to the Subcommittee on Social Security.
Who’s behind it
Rep. Heck, Joseph J. [R-NV-3](R-NV)Sponsor
3 cosponsors3 D
3cosponsors1committees4actions2subjects
- Introduced in HouseMay 19, 2016
- Jun 2, 2016Committee
Referred to the Subcommittee on Social Security.
Social Security Subcommittee - May 19, 2016IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - May 19, 2016IntroReferralIntro-H
Introduced in House
- May 19, 2016IntroReferral1000
Introduced in House