HR 5295
114th Congress
House
Social Welfare
Inflation and prices
Social security and elderly assistance
Safeguarding Economic Needs Important to Our Retirees through Creating an Ongoing Living Adjustment Guarantee (SENIOR COLA Guarantee) Act of 2016
Introduced: May 19, 2016
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 2, 2016
Referred to the Subcommittee on Social Security.
May 19, 2016
Referred to the House Committee on Ways and Means.
May 19, 2016
Introduced in House
Plain-English summary
Safeguarding Economic Needs Important to Our Retirees through Creating an Ongoing Living Adjustment Guarantee (SENIOR COLA Guarantee) Act of 2016
This bill amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to revise cost-of-living computation requirements.
Annual minimum and maximum cost-of-living increases for Social Security beneficiaries shall range between:
- 3% and 4% for individuals whose adjusted gross income (AGI) for the preceding calendar year did not exceed $18,000 ($20,000 in a joint return),
- 1.5% and 3% for individuals whose AGI ranged from $18,000 to $48,000 ($20,000 to $50,000 in a joint return), or
- 1% and 2% for individuals whose AGI exceeded $48,000 ($50,000 in a joint return).
What's happening now
Referred to the Subcommittee on Social Security.
Committees of jurisdiction
2
Cosponsors
1