The Bill: H.R. 2590, Seniors Protection Act of 2011

Annualized Cost: $14.5 billion (first-year cost)

In 1972, Congress passed legislation that created a cost of living adjustment, or COLA, for Social Security and Supplemental Security Income (SSI) recipients by indexing benefit payments to increases in the Consumer Price Index for Urban Wage Earners and Clerical Workers. Since 1975, when the COLAs first started, through 2009, beneficiaries saw an adjustment in the amount of their monthly checks. However, no adjustments were made to benefit payments in 2010 and 2011 due to low levels of inflation.

In response to the lack of a COLA for 2011, Congressman Joseph Crowley (D-NY) introduced the Seniors Protection Act. Under the Act, seniors, veterans, and other beneficiaries would receive a one-time payment of $250.

NTUF estimates that H.R. 2590 would increase spending by at least $14.5 billion based on the number of Americans — 58 million — who receive Social Security and SSI benefits.

To learn more or discuss this bill visit WashingtonWatch.com.