Social Security recipients can expect next year's annual cost-of-living adjustment (COLA) to be the lowest since 2021, following cooler inflation readings in July and August.
The Social Security Administration is expected to announce the official cost-of-living adjustment for 2025 on Oct. 10.
Much of the political debate about Social Security remains focused on reforming — and ultimately paring back — the entire program.
But earlier this year, Democratic Sen. Bob Casey of Pennsylvania introduced the Boosting Benefits and COLAs for Seniors Act, designed to increase Social Security benefits at a rate "that actually reflects the costs seniors face."
"The Boosting Benefits and COLAs for Seniors Act would help seniors contend with rising costs and ensure that Social Security remains a lifeline for all who need it.”
Persons:
” Mary Johnson, Johnson, Democratic Sen, Bob Casey of, ” Casey, ”
Organizations:
of Labor Statistics, Social, Senior Citizens League, Social Security, Medicare, Trustees, Social Security Administration, League, Democratic, Seniors, Bureau of Labor Statistics, , Social Security, Security
Locations:
Bob Casey of Pennsylvania, Pennsylvania