On the recordDecember 8, 2010
Mr. Speaker, I rise in strong support of the Seniors Protection Act. This bill will provide a $250 one-time payment to over 250,000 Rhode Islanders who will see no cost of living adjustment in their Social Security payment for a second consecutive year. The slow economic recovery has been particularly hard on Rhode Island seniors, veterans and individuals with disabilities. Social Security pays $14,000 a year for the average retiree, a modest but crucial benefit that provides over half of all income for the majority of our elderly. People with disabilities and veterans with service-connected injuries also rely on this assistance to meet their day to day needs because they are not able to work, though it is not for lack of trying. Since this assistance will be used to make mortgage payments, pay rent, buy food or access medical care, it will be injected right back into the economy providing additional economic stimulus to our communities. While Congress is considering extending tax breaks for millionaires and billionaires who don't really need them, I ask them to strongly consider extending a break to those that do. This $250 payment will help seniors, veterans, railroad retirees and people with disabilities who receive Social Security make ends meet during this difficult time, when housing values are down, other retirement income is volatile, and many are facing rising costs. I urge my colleagues to vote for the Seniors Protection Act, and support its immediate passage.





