Chained CPI Would Harm Veterans and Social Security Beneficiaries in Alabama

As we celebrate the 80th anniversary of our Social Security system, some politicians in Washington are proposing to cut benefits for veterans and Social Security beneficiaries in Alabama by changing the formula used to calculate cost-of-living adjustments (COLAs). The stingier formula, known as the chained CPI, would significantly cut the benefits of all current and future Social Security beneficiaries, including retired and disabled veterans. Veterans would be hurt most of all, given that other benefits veterans receive – in addition to their Social Security benefits – would also be cut by the chained CPI.

Chained CPI Would Harm Veterans and Social Security Beneficiaries in Alabama