Following Braley Push, Administration Drops Social Security Cut

Press Release

Rep. Bruce Braley (IA-01) today issued the following statement after reports that the Administration had dropped a proposal that would have cut Social Security benefits for current and future seniors by using the controversial "Chained CPI' formula to calculate cost of living adjustments:

"This is a win for Iowa's seniors, veterans and disabled individuals," Braley said. "I look forward to continuing my work to reduce the deficit, but slashing benefits for America's seniors was never the right thing to do--and I'm glad to see the Administration agrees."

Just yesterday, Braley joined other lawmakers in urging President Obama to exclude cuts to Social Security in his budget proposal.

A previous administration budget had proposed moving to a system that uses the "Chained CPI" formula to make cost of living adjustments for Social Security--a formula which experts agree would significantly reduce those adjustments and result in cuts to Social Security benefits for current and future retirees.

Braley has consistently been a strong supporter of preserving and strengthening Social Security benefits. In April of 2013 Braley became a co-sponsor of House Continuing Resolution 34 which maintains that Chained CPI should not be used to calculate cost-of-living adjustments for Social Security benefits.

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