Washington, D.C. — Today, U.S. Senate Aging Committee member Senator Kirsten Gillibrand issued the following statement on the Social Security cost-of-living increase.
“Today’s Social Security Administration announcement of an 8.7 percent increase in benefit checks, the largest increase since 1981, is fantastic news for more than 70 million Americans who are struggling with skyrocketing drug prices, prohibitive housing costs, and the rising cost of living. The larger Social Security checks will start hitting mailboxes in January 2023.
As a member of the Senate Committee on Aging, I support strong cost-of-living adjustments because they help people keep up with recent increases in everyday expenses. Cost-of-living adjustments for Social Security benefits can provide crucial resources for retirees and other beneficiaries who depend on Social Security.
I will also continue to champion the Social Security Expansion Act, which would ensure the solvency of Social Security for over 70 years by requiring the wealthiest among us to pay their fair share into the program, expand Social Security benefits across the board, and increase the cost-of-living adjustment.”
