What Happens If The Supreme Court Rules Against Obamacare?.job..Social Security Fairness Act Re-Introduced.Even more surprising is what isn't showing up on the list - medical costs. The cost of medical care services still increased 2.5 times faster than the COLA, rising by 3.2 percent. That's nothing new. In many years medical costs have increased more rapidly than in 2020. Emergency coronavirus legislation last spring restricted what providers could charge for many COVID-19 related services, and large numbers of patients and their doctors postponed non-urgent care..The opinions expressed in "Congressional Corner" reflect the views of the writer and are not necessarily those of TSCL..Dining On A Social Security Budget.Through 2012, annual COLA increases have been tied to the increase in the consumer price index for Urban Wage Earners and Clerical Workers. Deficit reduction plans would switch to a more slowly-growing CPI known as the "chained" CPI to determine COLAs. Traditional CPIs measure the increase in prices. But the chained CPI doesn't. It measures consumer spending when prices go up. For example if the price of beef goes up, it assumes people switch to less costly choices, like chicken. The chained CPI measures inflation as growing less slowly than traditional indexes..This year's Trustees Reports show that both programs face modest financial challenges that can be addressed by Congress with minor reforms. The Senior Citizens League supports the passage of legislation like the Social Security 2100 Act or the Social Security Expansion Act, both of which would strengthen the Social Security program's finances responsibly, without cutting benefits for current or future retirees. In addition, we hope Congress will pass legislation to bring down prescription drug costs in the Medicare program. Requiring Part D drug price negotiation would save billions of dollars for both the federal government and Medicare beneficiaries..Social Security is one of the foundations of our nation and it is based on the principle that if you work hard and play by the rules you will have the stability and security of guaranteed income in your older years. For 75 years, Social Security has been a critical safety net for our nation's seniors and it should be preserved for generations to come. For these reasons, I will keep fighting to provide an accurate measure of inflation for our senior citizens and to strengthen the program.
