3% Emergency Social Security Increase for 2021? The Stimulus COLA

Last week the announcement was made that Social Security’s annual cost of living adjustment would be 1.3%. The very next day two Congressmen announced legislation to have an emergency Social Security cost of living adjustment. This would override the previously announced 1.3% cost of living increase and instead, the increase would be 3%. In today’s video I want to cover this proposal, talk about the likelihood of it passing, and also hit on a few things the congressmen said in their press release announcing this Bill.

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RESOURCES USED IN THIS VIDEO:
https://defazio.house.gov/media-center/press-releases/defazio-larson-announce-legislation-to-provide-seniors-emergency-0

BLS CPI-E VS CPI-W
https://www.bls.gov/opub/ted/2012/ted_20120302.htm

Data on weightings in CPI-W vs CPI-E
https://www.bls.gov/opub/ted/2012/ted_20120302_data.htm
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See Disclosures Below

⭐⚠️⭐Please read this⭐⚠️⭐

I am an actual practicing financial planner, but I'm not YOUR financial planner. Don't take what I say as specific advice for your situation. Please consult with your own tax, legal and financial advisors.
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⚠️I am not an attorney or SSDI advocate. Furthermore, since I don’t really know you, I can’t give you advice. Please don’t take this video as specific advice for your specific situation. Consult your own tax, legal and financial advisors.
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Видео 3% Emergency Social Security Increase for 2021? The Stimulus COLA канала Devin Carroll