Senior Citizens to Benefit from Social Security COLA Increase with Boosting Benefits and COLAs for Seniors Act
New York, NY – Social Security benefits are set to increase, potentially providing a financial boost to millions of seniors to help cover their daily living expenses in the face of rising inflation. The Boosting Benefits and COLAs for Seniors Act aims to revamp the calculation method for cost-of-living adjustments (COLA) in order to better reflect the economic conditions that impact seniors. This shift will see the Consumer Price Index for Elderly Consumers (CPI-E) replace …