Seniors Protection Act of 2010

Floor Speech

Seniors Protection Act of 2010

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Social Security is a pillar of our society based on the premise that if you work hard and play by the rules you will in turn receive the stability and security of a minimum level of guaranteed income as you get older. While sometimes it gets pushed aside as nothing more than an entitlement program, the reality is that Social Security provides all of the retirement income for six out of ten seniors in this country.

Mr. Speaker, for 75 years, Social Security has never been a day late or a dollar short. But this year the Social Security Administration has recommended that there be no Cost of Living Adjustment--or COLA--for the second year in a row. That means that the very seniors who are struggling to make ends meet will receive a significant amount less than they were expecting for 2011.

While the lack of COLA is not a result of Congressional or Presidential action, today we have the chance to vote to make things right. The Seniors Protection Act of 2010 would simply provide a $250 check to Social Security recipients in lieu of a Cost of Living Adjustment for 2011.

For some, a few hundred dollars may not seem like a large amount of money. But for the millions of American seniors who are making hard choices, choosing between filling their prescriptions, paying their rent, or feeding their families, a modest increase in their Social Security income could make all of the difference in the world.

Furthermore, ensuring America's seniors can make ends meet would have a broader, positive, effect on the economy as a whole. A recent study by the Economic Policy Institute shows that similar payments to Social Security recipients have proven to be an effective economic stimulus.

Mr. Speaker, we must commit ourselves to continuing to provide the foundation for Americans' retirement security. I urge my colleagues to vote in favor of H.R. 5987.

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