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The Senior Citizens League Warns Chained CPI Affects More Than COLAs, Seniors Would Get Less, Pay More
Date:8/19/2013

nbsp; Seniors would pay more in taxes as tax brackets, exemptions, and deductions, which are indexed to the CPI, rise more slowly.

TSCL has compiled a chart, “12 Ways Seniors Would Get Less, Pay More”, which illustrates these effects.

“Efforts have been quietly underway for months to lay the groundwork for a far-reaching fiscal deal that involves Social Security cost-of-living adjustments (COLAs) and Medicare benefits,” Hyland notes. “It’s important for older Americans to realize that switching to the “chained” CPI is no single, or small, one-time cut. It’s a permanent annual cut across multiple senior programs that grows bigger over time the longer one lives,” Hyland states. “In the meantime senior taxpayers would pay more in taxes,” he adds.

TSCL is fighting “Chaining the COLA” and higher Medicare costs, and encourages seniors to attend town hall meetings and to contact their Members of Congress. To learn how much COLA cuts would cost you, try TSCL’s Chained COLA calculator. To subscribe to TSCL’s newsletter The Social Security and Medicare Advisor, visit http://www.SeniorsLeague.org/.
With about 1 million supporters, The Senior Citizens League is one of the nation's largest nonpartisan seniors groups. Located just outside Washington, D.C., its mission is to promote and assist members and supporters, to educate and alert senior citizens about their rights and freedoms as U.S. Citizens, and to protect and defend the benefits senior citizens have earned and paid for. The Senior Citizens League is a proud affiliate of TREA The Enlisted Association. Please visit http://www.SeniorsLeague.org or call 1-800-333-8725 for more information.

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