A bill to require the establishment of a Consumer Price Index for Elderly Consumers to compute cost-of-living increases for Social Security benefits under title II of the Social Security Act.
Consumer Price Index for Elderly Consumers Act - Directs the Bureau of Labor Statistics of the Department of Labor to prepare and publish a monthly Consumer Price Index for Elderly Consumers (CPI) that indicates changes over time in expenditures for consumption which are typical for individuals aged 62 years of age or older. Authorizes appropriations.
Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) to provide for the use of such new CPI in the computation of cost-of-living increases for social security and Medicare benefits under such programs.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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