Rep. Ted Deutch: President's Rejection of Chained-CPI is a Victory for Florida Seniors
Press Release
Congressman Ted Deutch (FL-21), who earlier this week joined 117 colleagues in urging the Obama Administration to reject the Chained-CPI, issued this statement on the President's decision to drop the misguided policy from his Fiscal Year 2015 budget:
"I applaud President Obama for drafting a budget that does not include cutting Social Security's cost-of-living adjustments, which are incredibly meager already and too often non-existent. This is a victory for the many seniors I represent who rely on Social Security as their primary retirement income. The unfortunate reality is that for years, seniors and disabled Americans across the country have seen the purchasing power of their monthly benefits shrink in the face of skyrocketing prescription drug, housing, and energy costs. Implementing the chained-CPI would make this problem worse and not better. I understand the temptation to offer Republicans in Congress concessions in hopes that they too would come forward with their own concessions. Unfortunately, they have refused to identify a single tax loophole that they would be willing to close, all the while embracing extremist budgets that use Medicare and Social Security to pay for deficits driven by other policies.
"Fundamentally, Social Security is a self-funded program that operates independently from the federal budget and should not be lumped into backroom budget talks where the voices of ordinary Americans risk going unheard. I introduced the Protecting and Preserving Social Security Act to start a conversation about what reform looks like when it actually reflects the views and the needs of the American people. My bill closes Social Security's minor shortfall, improves cost-of-living adjustments for all retirees, and ensures Members of Congress and CEOs pay into the program at the same rate the American people do."
Since his election to the U.S. House of Representatives, Congressman Ted Deutch (FL-21) has become known as a vocal advocate for strengthening Social Security:
His proposal to ensure COLAs accurately reflect the costs of retirees was highlighted by the New York Times, and an analysis released by the Social Security Chief Actuary in 2010 confirmed that Deutch's legislation would make Social Security solvent for another 75 years while improving benefits. Last year, Congressman Deutch led a letter signed by dozens of colleagues urging the President to reconsider the inclusion of the Chained-CPI in his FY2014 budget. In the 113th Congress, a Senate companion to Congressman Deutch's bill was filed by Senator Mark Begich (D-AK).
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