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Honolulu, Hawaii
United States
AARP Announces Support for $250 Relief for Older Americans
AARP Urges Congress to Pass Legislation to Address Lack of Social Security COLA
With an expected announcement of no Social Security cost of living adjustment (COLA) in 2010, AARP CEO Barry Rand is calling on House and Senate leaders to provide emergency relief in the form of a one-time $250 payment to millions of older Americans who are struggling in this economic climate. AARP will work with members of Congress from both sides of the aisle to urge quick passage of legislation that will help combat rising health care and prescription drug costs that consume an increasing amount of seniors’ income each year.
Excerpts from Rand’s letter to House Speaker Nancy Pelosi (CA), House Minority Leader John Boehner (OH), Senate Majority Leader Harry Reid (NV), and Senate Minority Leader Mitch McConnell (KY) follow:
“On behalf of our 40 million members nationwide, AARP would like to express our strong support for providing America’s seniors, veterans and people with disabilities with emergency relief in the form of a one-time $250 payment as the appropriate legislative response to the projected lack of a Social Security cost-of-living adjustment (COLA) in 2010.”
“Seniors spend a disproportionate share of their income (about 30 percent on average) on health care costs, which continue to increase well above the rate of overall inflation. The combination of higher health care costs, including prescription drug prices, and a stagnant Social Security benefit is particularly troubling and will result in lower net Social Security payments to millions of America’s seniors in January 2010.”
“…Providing seniors, veterans and people with disabilities emergency relief similar to that originally provided under the American Recovery and Reinvestment Act (ARRA) of 2009 would bring the $250 payment in line with the Making Work Pay tax credit also provided under ARRA.”
“It will also help stimulate the economy as seniors are more likely than any other age group to spend the economic relief money they receive.”
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Added: Oct 5, 2009
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