Proposal:COLA Act of 2020

This proposal is archived and closed to further debate. It was introduced in the 116th Congress, which has concluded, and the bill was not enacted into law.

Bill	HR 7765
Type of Legislation	House Bill
Congress	116
Status	Archived — 116th Congress concluded
Source	View original on Congress.gov

Geographic Scope

National

Description

Certainty for Older Living Americans Act of 2020 or the COLA Act of 2020

This bill sets out an alternative method to calculate cost-of-living adjustments for Old-Age, Survivors, and Disability Insurance benefits and requires the Social Security Administration to use whichever method results in a greater increase each year.

The current method is based on the annual change in the Consumer Price Index for Urban Wage Earners and Clerical Workers, which may result in no or small increases to benefits in years with deflation or low inflation. The alternative method established by this bill is based on a 10-year average of cost-of-living adjustments.

Bill Title

COLA Act of 2020

Linked Goals

• Goal:Promote General Welfare

Steps

• 2020-07-23: Referred to the Subcommittee on Social Security.
• 2020-07-23: Referred to the House Committee on Ways and Means.
• 2020-07-23: Introduced in House
• 2020-07-23: Introduced in House

Projected Outcome

A more informed proposal or public response aligned with the Promote General Welfare goal.