McKinley Applauds First Cost-of-Living Increase for Social Security Recipients in Two Years

Statement

The Social Security Administration announced Wednesday that for the first time in two years Social Security recipients will receive a raise in cost-of-living benefits. The administration announced a 3.6 percent increase, which means an extra $467 next year for seniors and other Social Security recipients. McKinley, who is cosponsoring two bills that change the formula for cost-of-living adjustments (COLA) to better reflect the purchasing habits of senior citizens, has long advocated a permanent fix. There was no COLA increase for the first time in history for the last two years -- something McKinley does not want to see happen again.

After Wednesday's announcement, McKinley issued the following statement:

"Today's news is a breath of fresh air for West Virginia seniors who have been having to do more with less. The cost-of-living for seniors has greatly increased but their benefits have not reflected that reality. Due to rapidly-rising prescription drug premiums, which are often taken out of Social Security checks, some seniors have been forced to take a "pay cut.' That's just wrong -- this is our greatest generation and we need to continue the fight to protect their benefits and ensure they are able to survive."

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