Sen. Warren introduces law that would increase Social Security benefits in 2016

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Senator Elizabeth Warren introduced the Seniors and Veterans Emergency (SAVE) Benefits Act today. If passed, people receiving Social Security benefits, veterans and others would get $581 more in 2016. This one-time payment is equal to 3.9 percent of the average Social Security annual retirement benefit.

In 2016, older adults and people with disabilities are not receiving any increase in their Social Security benefits. The proposed additional payment is designed to match the 3.9 percent average CEO pay increase last year.

Senator Warren proposes to fund the one-time payment by ending the CEO performance pay tax break. That will cover the cost of this payment and help extend the life of the Social Security Trust Funds.

If Congress were to require the Social Security Administration to base Social Security cost of living increases on the Consumer Price Index for the Elderly, which far more accurately reflects increases to retirees’ costs, people receiving Social Security benefits would see an increase in 2016.

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Comments

7 responses to “Sen. Warren introduces law that would increase Social Security benefits in 2016”

November 6, 2015

David Arbiter, MD

As One would expect from Elizabeth Warren, she has Hit a truly serious Problem for our Society. To wit, how to maintain our elderly Population while the cost of Living progressively increases. May her Demand Be Supportes wholeheartedly.

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1. November 7, 2015
  
  Richard
  
  I agree with you David.
  
  Reply
November 7, 2015

Alma Arias

Again, she fights for us all. There are truly so many seniors living at a poverty level. Let’s stand behind Senator Elizabeth Warren. Really, no others revealed the CEO loophole to finance this cola! Thank you Ms. Warren!

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November 7, 2015

Tigger Too

May God bless Senator Elizabeth Warren. She and Senator Bernie Sanders are pretty much alone in advocating for senior citizens, the disabled, military veterans, minorities and the disadvantaged in general. Sadly, however, Warren’s proposed legislation, the Seniors And Veterans Emergency (SAVE) Benefits Act, will NEVER be passed by a Republican-led Congress. Closing the loophole that essentially funds CEO salary increases via taxpayer-funded money is not popular amongst most conservative politicians. I will NEVER understand why the Republican electorate continues to vote AGAINST their own best self-interests. Warren is one of our most populist politicians, somebody who deserves to be recognized for her efforts to improve the lot of the Common Man, but her suggested legislation to help senior citizens and the less fortunate will NEVER happen. For real, this sucks. The American voters have no one but themselves to blame for failing to suit up and show up at the ballot box each and every Election Day, even in off-year, “unimportant” election years, to vote for the candidates, such as Warren and Sanders, who will actually stand up for the Little Guy. I reiterate, God bless Senator Elizabeth Warren for at least TRYING. And shame on the people who fail to vote and elect candidates like her on Election Day.

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November 8, 2015

Hazelove

Elizabeth Warren and Bernie Sanders appear to be the only two senators who truly understand the plight of the senior citizen and disabled. Why aren’t more of our representatives speaking out and up for these individuals? Maybe it is because these are two of the very few politicians that are not affected by corporate influence ($$$$$$). We need more Elizabeth Warrens and Bernie Sanders to fight for the needs of the American people…. not the super rich on Wall Street. I would love to see Warren run for the Democratic presidency.

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January 9, 2016

Gina Owens

I agrega with HAZELOVE. I too, wish Senator E. Warren would Rin for the Presidenta seat.

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1. January 11, 2016
  
  David Arbiter, MD
  
  My wife and I truly believe she is the currently best politician on the list of those who accomplish great things.
  
  Reply