Today, Congressman Jesse Jackson, Jr. made the following statement regarding H.R. 5987, the Seniors Protection Act of 2010. The bill would provide a one-time payment to 54 million Social Security recipients who will not receive a Cost-of-Living-Adjustment (COLA) for 2011. Congressman Jackson is a co-sponsor of the legislation.
"I am very pleased that we will return to Washington in November to make sure that our seniors are taken care of. Social Security is about providing an economic safety net for those who have worked so hard for so long, and this one-time payment will keep that safety net in place. It is good for the economy, good for the country and most importantly, good for our seniors. I look forward to casting an enthusiastic vote in favor of the bill."
The Social Security Administration announced today, October 15, 2010, that there will be no automatic COLA for recipients in 2011. For more information on H.R. 5987, visit http://thomas.loc.gov/. Speaker of the House Nancy Pelosi has committed to bringing the bill to the House floor for a vote in November.