Washington, DC - Ways and Means Ranking Member Dave Camp (R-MI) issued the following statement on the announcement by the Social Security Administration that there would be no annual cost of living adjustment (COLA) next year:
“Seniors, those with disabilities and their families are understandably disappointed to learn that the annual cost of living adjustment or COLA they expect in their Social Security and Supplemental Security Income check will not occur next year. If Congress does act to address this issue - and there seems to be growing interest in doing something - we must ensure we do not worsen Social Security’s already precarious financial condition. In fact, the failure to strengthen this vital program will result in millions of future retirees not receiving the full benefits they earned and were promised. The sooner Congress turns to the larger problems facing Social Security, the better."
