As we celebrate the 78th anniversary of our Social Security system, some politicians in Washington are proposing to cut benefits for veterans and Social Security beneficiaries 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.
Any budget or plan that includes the chained CPI will hurt veterans and Social Security beneficiaries. These fact sheets document how budget proposals that include the chained CPI will harm veterans and other Social Security beneficiaries in all 50 states, and for the country as a whole.