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Congressional Response: Representative John Boozman (R-3rd, AR) Responds To Your COLA Petition
Dear Fellow Arkansans: Thank you for contacting me regarding H.R. 2262, the Consumer Price Index for Elderly Consumers Act. It is always helpful for me to know of your interest in issues that come before Congress. As you may know, HR 2262, the Consumer Price Index for Elderly Consumers Act, sponsored by Rep. Bernie Sanders (I-VT), would use the current experimental Consumer Price Index for the elderly (CPI-E) that is compiled by the Bureau of Labor Statistics, as the measure for adjusting Social Security COLAs for seniors aged 62 and over. Supporters of the legislation claim that the CPI-E more accurately reflects seniors' costs of living because it appropriately weighs the purchasing habits of seniors. Furthermore, COLAs are automatic and based on changes in the Consumer Price Index (CPI) as a result of legislation Congress passed in 1972. To determine the COLA, the Social Security Administration compares the CPI for the third quarter of the previous year with the CPI of the third quarter for the current year. If there is a change, the COLA is adjusted. I understand your concerns, and I appreciate you taking the time to contact me concerning this important issue. Please be assured, as H.R. 2262 continues to move through the legislative process, I will keep your views in mind. Again, thank you for writing about this very important issue. Please be sure to visit our website at www.boozman.house.gov where you can sign-up for e-mail updates on important issues; find information on constituent services; read columns and press releases; all of which affect and concern the people of Arkansas. I look forward to your continued correspondence. Sincerely, John Boozman January 2004 | ||||||||
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