H.R. 7765 · 116th Congress
COLA Act of 2020
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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
WalbergSponsorNo cosponsors.
Certainty for Older Living Americans Act of 2020 or the COLA Act of 2020
What it does: CRS summary · Introduced in House · Jul 23, 2020
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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: COLA Act of 2020
Also known as: Certainty for Older Living Americans Act of 2020
Latest action (Jul 23, 2020): Referred to the Subcommittee on Social Security.
Policy area: Social Welfare · Origin: House · Introduced: Jul 23, 2020
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.