Castor Argues in Favor of Social Security Boost for Seniors
Dec 8, 2010 -
Congresswoman Kathy Castor argued today in favor of a boost for seniors on Social Security to counterbalance the flat cost-of-living increase this year during U.S. House consideration of the Seniors Protection Act. Castor, a member of the Congressional Task Force on Seniors, co-sponsored the Seniors Protection Act, which will give a one-time additional Social Security check to seniors.
The legislation is in response to the Social Security Administration’s recent announcement that monthly benefit checks will not include a cost-of-living adjustment. The Social Security Administration based that decision on inflation calculations by the Bureau of Labor Statistics
The Seniors Protection Act will provide a $250 payment to about 54 million Americans. Castor recently visited seniors at River Apartments in Tampa and pledged to them she would extend this lifeline.
“Seniors have told me that the $250 payments will provide important support during this difficult economic time,” Castor said. “Throughout the past several years, seniors have seen their pensions decline, their retirement savings decline, their health costs increase and, in many cases, their housing costs increase. We must do right by our seniors. Our older neighbors are having trouble staying afloat. For many seniors, Social Security is their primary source of income. This boost will ease their financial strain and economic stress.”
Six in 10 seniors rely on Social Security for more than half of their income, and approximately one-third of retirees have little other than Social Security on which to live. Approximately 3.7 million Floridians receive Social Security, including about 105,000 in the area Castor represents. Nationwide, more than 50 million Americans receive Social Security benefits. The average monthly retirement benefit is $1,157.
“We cannot let our parents and grandparents down,” Castor said. “Social Security is a fundamental promise.”