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This new bill would change how COLA is decided and get rid of Windfall Elimination Provision

A bill called Social Security 2100: A Sacred Trust, would adjust the formula used to determine COLA and get rid of the Windfall Elimination Provision. Current and new claimants would also see an increase in money.

Congressman John Larson plans to introduce the bill this week.

Larson said attention needs to be given to the Social Security program, as seniors continue to suffer in poverty while Congress fails them.

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Provisions of the bill include an increase in benefits of about 2% of the average benefit.

Protection from inflation will also be added, and a different formula will be used to better reflect seniors that spend most of their money on healthcare.

Low-income workers will be protected and the minimum benefit for those retiring will be set 25% above the poverty line. This ensures people don’t retire into poverty.

Related: Social security checks are in danger of being cut if you have other income from retirement

There will no longer be a waiting period for disability benefits, which is currently 5 months.

Caregivers will receive credits so they aren’t penalized for not working to care for children and family.



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