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Chained CPI will financially harm seniors
A flawed policy initiative called the Chained CPI is gaining steam in Washington budget talks that would shortchange Nebraskans who receive federal benefits such as Social Security and federal annuities by lowballing their annual cost-of-living adjustments (COLAs). Chained CPI supporters claim it is a “technical adjustment” or “better measure of inflation.” When you cut through the rhetoric, the truth is that the Chained CPI is only an adjustment in that it means smaller COLAs each year. It hurts every American – particularly our most vulnerable (those seniors and disabled who are no longer in the employment arena and rely on adequate benefits, which require keeping pace with inflation). It affects a person’s earned benefits in a major way that will continue to worsen over time. Read more.
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