Washington, DC - Senate Finance Committee Chairman Max Baucus (D-Mont.)
commented today on the Social Security Administration’s announcement that the automatic Social Security cost-of-living adjustment (COLA) for next year will be 2.3 percent.
“Today’s cost-of-living adjustment for Social Security is a good reminder of the unique features of this program - that benefits keep up with inflation, that seniors can never outlive their retirement benefits, and that these benefits are secure for the long term. Social Security works. That’s why I will work in the Finance Committee on smart Social Security initiatives that ensure a solid financial structure for the program for the future, and why I will fight risky schemes - like privatization - that might undermine Social Security’s ability to provide COLAs and guaranteed lifetime benefits."
Source: Ranking Member’s News
