House Bill 7765
116th Congress(2019-2020)
COLA Act of 2020
Introduced
Introduced in House on Jul 23, 2020
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
7765
Congress
116
Policy Area
Social Welfare
Social Welfare
Primary focus of measure is public assistance and Social Security programs; social services matters, including community service, volunteer, and charitable activities. Measures concerning such health programs as Medicare and Medicaid may fall under Health policy area.
No House votes have been held for this bill.
Summary
Certainty for Older Living Americans Act of 2020 or the COLA Act of 2020
This bill sets out an alternative method to calculate cost-of-living adjustments for Old-Age, Survivors, and Disability Insurance benefits and requires the Social Security Administration to use whichever method results in a greater increase each year.
The current method is based on the annual change in the Consumer Price Index for Urban Wage Earners and Clerical Workers, which may result in no or small increases to benefits in years with deflation or low inflation. The alternative method established by this bill is based on a 10-year average of cost-of-living adjustments.
July 23, 2020
07/23/2020
Referred to the Subcommittee on Social Security.
07/23/2020
Referred to the House Committee on Ways and Means.
07/23/2020
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:45:50 PM