Biden didn't, presidents don't, 'give' us SS COLA increases.
But let's say some ahistorical nitwit GOP House Nazi decided to introduce a Bill to amend/shitcan COLA. Even Little Moses can count; no voting majority will line up to touch the 'third rail of politics'. The Dems would be salivating for debate on the subject and poll numbers would make the winning abortion rights vote margins in the states look like close calls. 60-40 against f'ing with COLA? Lets try 70-30, 80-20......
And you cant rule out the Dems countering with a change to COLA that Proposes a minimum of 3% increase/yr.
The Social Security Cost-of-Living Adjustment (COLA) cannot be changed without legislation. Here are the key points regarding how COLA is determined and the legislative framework surrounding it:
Current Framework for COLA
Legislative Basis: The COLA is established by law, specifically tied to the percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). This formula was enacted as part of the 1972 Social Security Amendments, and automatic annual COLAs began in 1975.
Calculation Process: The Social Security Administration (SSA) calculates the COLA based on CPI-W data from the third quarter of the previous year compared to the same period in the current year. If there is no increase in the CPI-W, there will be no COLA.
Legislative Changes Required: Any changes to how COLA is calculated or its implementation would require new legislation passed by Congress. This means that adjustments to the current system cannot occur unilaterally by the SSA or the executive branch. Implications
Automatic Adjustments: The current system ensures that benefits adjust automatically with inflation, protecting beneficiaries' purchasing power over time.
Potential Legislative Changes: While there are ongoing discussions about reforming aspects of Social Security, including how COLA is calculated, any significant changes would necessitate a legislative process involving both houses of Congress.
In summary, the COLA for Social Security benefits is governed by existing law and can only be modified through legislative action.
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