Tim Sheridan called today for a change in the way cost of living adjustments (COLA) are made for Social Security recipients.
The California Democratic Party’s candidate in the 42nd Congressional District is dismayed at the recent federal government announcement that millions of Social Security recipients will only get a 0.3 percent COLA increase next year.
“This is the fifth year in a row that seniors will have to settle for historically low raises,” said Sheridan. “Congress needs to act responsibly on my plan to implement a fairer way to calculate COLA adjustments for recipients.”
Sheridan’s proposal would change the particular Consumer Price Index (CPI) that the Social Security Administration uses to calculate annual COLA.
“Instead of tying COLA to the costs that a person living in an urban setting faces, we should use a CPI that is tied to the life style of seniors and their increased health care costs,” Sheridan said. “It’s a simple change that Congress has refused to entertain. When elected, I will proposal a bill with this change that makes COLA more fair for seniors.”
“Although the opposition claims Social Security is broken,” concluded Sheridan, “I believe the system is sound and can be improved by this small but fiscally sound modification.”
California’s 42nd Congressional District, a geographical area shaped like the letter “X.” runs along the I-15 corridor from Eastvale, southeast to Temecula, and northeast along the I-215 and CA-79 corridors to Beaumont. It also includes the communities of Corona, Norco, Lake Elsinore, Wildomar, Murrieta, Menifee, Sun City, Winchester, Homeland and Nuevo. Tim Sheridan lives in Lake Elsinore.