House and Senate Resolutions Oppose Chained Consumer Price Index

In the House, Rep. David Cicilline (D-RI) has introduced H. Con. Res.34, expressing the sense of the Congress that the Chained Consumer Price Index (CPI) should not be used to calculate cost-of-living adjustments for Social Security benefits. Eighty-two Representatives have signed on as co-sponsors of this concurrent resolution, which has been referred to the Committee on Ways and Means. In the Senate, Sen. Tom Harkin (D-IA) has introduced S. Con. Res. 15, expressing the sense of Congress that the Chained CPI should not be used to calculate cost-of-living adjustments for Social Security or veterans’ benefits, or to increase the tax burden on low- and middle-income taxpayers. Sixteen Senators have signed on to the concurrent resolution, which was referred to the Committee on Finance. The Arc strongly supports these resolutions.