On the recordDecember 8, 2010
I rise in strong support of the Seniors Protection Act. Since 1975, seniors have depended on a cost-of-living adjustment to meet their rising expenses. Through an automatic formula, they have received a cost-of-living adjustment every year, without fail, until last year. Now, for a second year in a row, at a time when seniors have seen their savings and home values drop and prices for their prescriptions and other bills rise, they will also see their benefits frozen yet again. I believe we must examine the COLA formula to ensure that it meets the needs of seniors; but, in the meantime, we must provide an increase to their benefits today so they can pay their expenses. I strongly support this legislation, which will provide a one-time payment of $250 to Social Security recipients in the upcoming year. I urge my colleagues to support this legislation.
