Linda Sánchez Applauds Social Security COLA Increase (Oct. 19, 2011)
Washington, DC –The Social Security Administration (SSA) today announced that Social Securitybeneficiaries will soon see their first Cost-Of-Living Adjustment (COLA)increase in two years. The 3.6%increase will go into effect in January of 2012 to help meet increasingconsumer prices. Congresswoman Linda Sánchez, who has worked tirelessly to saveSocial Security, issued the following statement:
"I am pleased thatour seniors will soon be getting some much needed relief after two longyears. In the 39th District,there are nearly 50,000 Social Security beneficiaries who are 65 years-old orolder. It has been difficult for them to make ends meet these past two yearsbecause costs for medical care, food, and housing have all risen. SocialSecurity has always kept its promise in taking care of our seniors inretirement, and I applaud the Social Security Administration for taking thiscrucial action."
Social Security beneficiaries will receive a notice from SSAin mid-November regarding the COLA increase and their new benefit amounts for2012. Nationwide, 55 million Americans rely on Social Security benefits,including 42.5 million senior citizens. Additionally, 4.8 million Californians depend on Social Securitybenefits. Social Security lifts 13million elderly Americans out of poverty.
Congresswoman Sánchezhas been a leader in Congress in fighting to strengthen Social Security. Earlier this year, Congresswoman Sánchez joined her Democratic colleagues inwriting to Speaker John Boehner opposing nearly $1.7 billion in cuts to SSA's operating budget. Last Congress, Congresswoman Sánchez introduced a resolution opposingRepublican plans to privatize Social Security.