Now running for the U.S. Senate, on Monday, U.S. Rep. David Jolly, R-Fla., showcased his “Keep Our Promise to Seniors Act” which would change Social Security benefit calculations.
Jolly’s office insisted the congressman’s proposal “would mean seniors are more likely to receive an annual benefit increase that matches the increased cost of products and services they purchase, like groceries, health-care, and housing.”
“Many seniors depend on Social Security as their primary source of income after retirement, and the government has made a promise to provide them with the benefits they have earned and paid into,” Jolly said. “We must make the system work to ensure that the income seniors receive keeps up with the rising costs of living they face.”
The bill would have the U.S. Bureau of Labor Statistics assemble a monthly “Consumer Price Index for Older Americans.” The proposed index would measure “changes over time in the cost of living for a population that consists solely of individuals living in the United States who are 62 years of age or older” and “is specifically designed to reflect the geographic areas in which such individuals reside, the goods and services purchased by such individuals, and the prices typically by such individuals for those goods and services.”
In October, for the third time in six years, the Social Security Administration (SSA) decided not to provide seniors a cost-of-living adjustment (COLA). Jolly insisted that decision was based on the calculations the SSA used.
“Older Americans have unique buying patterns that aren’t the same as those of the average worker,” Jolly said. “As the annual cost of items like housing and health-care rise, seniors face a disproportionate increase in their cost of living. We have an obligation to ensure the system is responsive to their needs.”
While Jolly’s “Keeping our Promise to Seniors Act" has the support of Social Security Works, the bill has not garnered any co-sponsors in Congress. Jolly introduced the proposal earlier this month and it was sent to both the U.S. House Ways and Means Committee and the U.S. House Education and the Workforce Committee. If adopted, Jolly’s legislation would start a year after becoming law.
Jolly faces U.S. Rep. Ron DeSantis, R-Fla., Lt. Gov. Carlos Lopez-Cantera and businessman and veteran Todd Wilcox in the Republican primary to replace U.S. Sen. Marco Rubio, R-Fla., who is seeking the GOP's presidential nomination.
Reach Kevin Derby at kderby@sunshinestatenews.com or follow him on Twitter: @KevinDerbySSN
