Many Americans struggle to get by in an era of economic hardships, especially those who rely on Social Security. Older Americans often face significant challenges and have a harder path than most. Will a Social Security boost help?
High Costs Are a Real Problem for Seniors
While people of every age may face economic challenges, seniors face more expenses than many of their younger counterparts. High Medicare premiums and rising healthcare costs present significant financial hurdles for retirees.
The Current System Doesn’t Work
Social Security has failed older Americans for a very long time. Benefits are far too low, and minimal increases do not address the full impact of rising costs for seniors. COLA increases are intended to keep benefits in line with inflation, but the 3.2 percent cost-of-living adjustment in 2024, once again, failed to meet the needs of retirees.
How a Social Security Benefits Increase Could Change Everything
Social Security should help people to live comfortably in retirement. However, those who do not have additional retirement or savings, struggle to survive on Social Security Benefits alone. Many retirees expect a lot more from the system they paid into than what they actually receive. A Social Security increase would provide seniors with a living wage and a sufficient income in retirement. This is a change that older Americans desperately need.
The Elder Relief Act
We believe that a bill we call The Elder Relief Act is the change older Americans need. This bill would immediately provide an $85 increase to monthly Social Security benefits. Furthermore, the proposed legislation would guarantee a minimum 4 percent increase every year after. This legislation would be life-changing for so many Americans.
If you agree that the greatest generation deserves more, let your Congressman know, and be sure to check back here for the latest updates.