VENTURE CAPITAL POST

A cost-of-living increase (COLA) of 3.2% in 2024 helped a lot of people in the US who depend on Social Security to get by.

Sen. Elizabeth Warren, D-Mass.presented a bill that would pay social security beneficiaries a one-time stipend intended to balance the absence of a cost living adjustment in 2016. Investment News reported that Warren's arrangement calls for the elimination of a tax reduction that allows companies to discount CEO rewards, authorizing the cash to pay those on Social Security.

Under Social Security rules, some 70 percent of Medicare beneficiaries will not get increases when the cost of living adjustment in Social Security is zero.

Congressman Alan Grayson requested a memo that would lead to higher Social Security benefit increases and improve the retirement security of the elderly. The Congressman came up with a proposed legislation called "Seniors Deserve a Raise Act." It would give recipients of Social Security an increase that offsets the 40-year shortfall and make the CPI-E permanent. It will be filed when the Congress reconvenes.

Social Security continued to wait for their benefit increase announcement for their cost-of-living adjustment.