Proposal on the table: Change method of calculating cost of living adjustments (COLA)
Right now, the president and Congress are considering a last-minute budget deal that would cut Social Security benefits, taking thousands of dollars of retirement income away from current beneficiaries. Moving to a chained consumer price index, would cut benefits by $127 billion over the next 10 years alone.
National Impact: Social Security beneficiaries would lose $127 billion over the next 10 years alone.
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