Speaker Pelosi
Backs $250 Payment to Senior Citizens, Veterans if No COLA for 2011
Senior Protection
Act by Rep. Earl Pomeroy still in committee; President Obama has backed
$250 payment for seniors
Oct. 15, 2010 –
If it is announced today, as expected, that there will be no
cost-of-living adjustment (COLA) to increase Social Security in 2011 for
senior citizens, Democrats are poised to back a bill by Congressman Earl
Pomeroy and supported by House Speaker Nancy Pelosi to issue seniors and
retired military a one-time $250 payment.
“The Seniors
Protection Act, introduced by subcommittee Chairman Earl Pomeroy,
provides America’s seniors and all Social Security recipients with a
one-time payment that will help millions make ends meet during these
difficult economic times,” the Speaker said in a prepared statement
Medicare law has
“hold harmless” provision protecting 70% on Social Security from paying
a higher Part B premium, which could cause many to receive less than
2010
“In the event
that the Social Security Administration announces it will not provide a
Cost-of-Living Adjustment (COLA) for recipients this year, the House
will vote to provide seniors with a one-time payment of $250. I have
asked the Ways and Means Committee to bring this legislation to the
floor during the lame duck session.”
She added, “All
Members of Congress should join us in supporting this legislation which
will be fiscally responsible and upholds our bedrock promise of economic
security for our nation’s seniors.”
Pomeroy, a North
Dakota Democrat and Chairman of the Social Security Subcommittee of Ways
and Means, said, ““Our seniors have everyday expenses for drugs,
utilities, housing and food that have increased, regardless of the
government’s Consumer Price Index (CPI) formula. Social Security
benefits are very modest – amounting to only about $14,000 annually, on
average – and seniors are already stretching their income as thinly as
possible to make ends meet.
“Although the
CPI cost factors are far from Congress’ control, I believe that Members
will be energized when we return to Washington in November to quickly
pass legislation that will help seniors, who would otherwise face a
second year with no increase in Social Security benefits.
"Passing my
bill, the Seniors Protection Act, which provides a one time $250 payment
to seniors, would continue the strong commitment of this Congress to
protect our seniors in these challenging economic times. The 111th
Congress has already acted to help seniors several times – with a $250
economic recovery payment in 2009.
“Social Security
has a proven record of providing a reliable check, month after month,
even as as other sources of income for seniors have fallen in the last
two years. I will continue to lead the fight to protect Social Security,
so that the seniors who worked so hard for many years will have the
dignity they deserve in retirement.”
Congressman Chet
Edwards (D-Texas), a co-sponsore of H.R. 5987, said, “Monthly expenses
for prescription drugs, medical costs, and utilities continue to rise
for seniors and their Social Security benefits should keep up. There is
no reason an increased burden should fall on seniors and people with
disabilities, especially during tough economic times. I have helped pass
into law a $250 payment for seniors this year and we should continue
that policy until Social Security cost-of-living-adjustments are
updated.
In 2009, Edwards
helped pass into law a one-time $250 payment to Social Security
recipients to assist seniors living on fixed incomes.
President Barack
Obama has earlier voiced support for a $250 payment to older Americans,
veterans and the disabled that depend on Social Security, should there
be no COLA increases for 2011.
Keep up with the latest news for senior citizens, baby
boomers
Trust Funds exhausted in 2037, same as projected last year;
enter red ink in 2015
