AARP Wants Method For Calculating Cost-Of-Living To Remain The Same

October 02, 2013

Volunteers and staff of Arizona AARP are lobbying members of Congress this week to not change the way cost-of-living adjustments are calculated for Social Security recipients.

A new report form the AARP Public Policy Institute calculates that every benefit dollar generates two dollars in spending by Arizona individuals and businesses, adding almost $30 billion a year to the state’s economy. AARP State Director David Mitchell says that also translates to jobs.

"The $15.9 billion paid in benefits actually helped Arizona workers either find or keep 202,000 jobs,” Mitchell said.

He says changing the method of calculating cost-of-living adjustments to what’s called a chained CPI, would cost Arizona recipients thousands of benefit dollars over the long-term, and hurt the state’s economy.

The Washington contingent of AARP is delivering the report and thousands of petition signatures to congressional offices this week. 

If you like this story, Donate Now!