A bill to amend title II of the Social Security Act to provide that the automatic cost-of-living increases in benefits thereunder shall be based either on increases in the Consumer Price Index or on increases in wages, whichever (in any particular case) is lower.

Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to base the automatic cost of living increases in title II benefits either on increases in the Consumer Price Index or on increases in wages, whichever is lower for the cost of living computation quarter involved.