COLA Act of 2020
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Jul 23, 2020)
Certainty for Older Living Americans Act of 2020 or the COLA Act of 2020
This bill sets out an alternative method to calculate cost-of-living adjustments for Old-Age, Survivors, and Disability Insurance benefits and requires the Social Security Administration to use whichever method results in a greater increase each year.
The current method is based on the annual change in the Consumer Price Index for Urban Wage Earners and Clerical Workers, which may result in no or small increases to benefits in years with deflation or low inflation. The alternative method established by this bill is based on a 10-year average of cost-of-living adjustments.
What just happenedJul 23, 2020
Referred to the Subcommittee on Social Security.
Who’s behind it
- Introduced in HouseJul 23, 2020
- Jul 23, 2020Committee
Referred to the Subcommittee on Social Security.
Social Security Subcommittee - Jul 23, 2020IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - Jul 23, 2020IntroReferralIntro-H
Introduced in House
- Jul 23, 2020IntroReferral1000
Introduced in House