AUDUBON, N.J. (CBS) – A South Jersey congressman is planning to introduce legislation that’s aimed to assist senior citizens deal with the rising cost of getting by.
Donald Norcross (D-Cherry Hill) unveiled his plan at a senior citizens center in Audubon, Camden County.
He notes that cost of living increases have been harder to come by in recent years. Part of the problem centers on how the feds figure out those COLAs.
“The calculations for the Consumer Price Index now is based on things such as toddlers clothes, child care, nursery care, elementary and high school and college tuition fees, which seniors aren’t really all that involved with obviously,” Norcross told KYW Newsradio.
In addition, Norcross says when those seniors do get a boost in Social Security, it’s often eaten up by Medicare premiums.
The congressman’s proposal, which is still in development, would require COLA’s be based on a separate CPI centering on what seniors need.
Any Medicare premium hike could be capped at 30% of that year’s cost of living increase.