Merkley: Great News “Chained CPI” Not in Budget

Washington, DC – Oregon’s Senator Jeff Merkley issued the following statement after it was announced that a cut to the Cost of Living Adjustment (COLA) for Social Security will not be included in President Obama’s budget for Fiscal Year 2015. 

“It is great news that the President is responding to the concerns of so many Americans and won’t include ‘chained CPI’ in his budget. The Social Security COLA already doesn’t reflect the real costs seniors face, and cutting it makes no sense. Middle class Americans need retirement security they can depend on, and that starts with keeping Social Security’s promises.”

Last week, Merkley joined with colleagues to call on the President to not include cuts to Social Security, Medicare and Medicaid in the Fiscal Year 2015 budget.