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Congressional Response: Senator Richard Lugar (R, IN) Responds To Your COLA Petition
I support an automatic annual COLA for Social Security recipients. Each year the Social Security Administration calculates the cost of living adjustments for the following year. The cost of living adjustment for Social Security beneficiaries is determined by the increase in the Consumer Price Index (CPI) from October through September of the following year. For 2004, Social Security beneficiaries will receive a 2.1% COLA. I also favor repeal of the tax on Social Security to allow seniors to keep their benefit money. Just as the government should provide an automatic Social Security COLA to ensure that benefits are not eroded by inflation, it must also avoid eroding Social Security benefits through taxation. I voted against the tax increase on Social Security benefits that was included in former President Clinton’s 1993 budget. I am committed to ensuring that all Social Security recipients receive every dollar they are due. Millions of American seniors depend on Social Security benefits. They paid into it, and the benefits they receive are their money. I believe the well-being of current and future retirees must be one of the government’s highest priorities. Social Security has become a lifeline making the difference between a decent standard of living and poverty for a large number of older Americans. I am committed to preserving a strong, fair, and dependable Social Security program. Again, thank you for your interest in this important issue. Sincerely, Richard G. Lugar January 2004 | ||||||||
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