H.R. 3389 · 116th Congress
Guaranteed 3 Percent COLA for Seniors Act of 2019
- Stage
- In committee
- Sponsor
- Eliot Engel
- Introduced
- 2019-06-20
- Latest action
- 2019-06-20 · Introduced in House
Summary
Guaranteed 3 Percent COLA for Seniors Act of 2019
This bill revises the method used to calculate cost-of-living adjustments for certain Old Age, Survivors, and Disability Insurance benefits. Specifically, the Bureau of Labor Statistics must develop a price index that tracks the spending patterns of older consumers for purposes of calculating the cost-of-living adjustment. Individuals over 62 must receive, at minimum, a 3% annual cost-of-living increase.