On October 24th, the Social Security Administration (SSA) announced the next Cost of Living Adjustment (COLA) at 2.8%. A few days after this highly anticipated announcement, a group of senators introduced to Congress a bill aimed at adding $200 to all Social Security and Veterans Affairs benefits for six months. The proposed bill is called the Social Security Emergency Inflation Relief Act and it has the backing of a number of Democratic senators including Sen. Elizabeth Warren and Senate Minority Leader Chuck Schumer, amongst others. The bill was introduced in Congress on October 30th. Here is what you need to know.
The Social Security Emergency Inflation Relief Act
A group of Democratic senators have recently proposed the Social Security Emergency Inflation Relief Act. If passed, this bill would add $200 per month to all Social Security and Veterans Affairs benefits for a period of six months ending in July 2026. This bill has the backing of several Democratic Senators including Mark Kelly of Arizona, Alex Padilla of California, Tammy Duckworth of Illinois, Angela Alsobrooks and Chris Van Hollen of Maryland, Elizabeth Warren of Massachusetts, Tina Smith of Minnesota, Kirsten Gillibrand and Chuck Schumer of New York, Ron Wyden of Oregon and Peter Welch of Vermont.
There are currently 71 million Social Security beneficiaries, and a further 7.5 million recipients of the Supplemental Security Income, all of whom would qualify for the $200 per month benefit boost. Additionally, recipients of railroad retirement, veteran disability compensation, and veteran pensions would also be included in this “emergency inflation relief”.
The proposal was made mere days after the SSA announced the 2026 COLA increase of 2.8%, which many believe is not enough to cover rising costs — particularly the costs that are rising as a result of the Trump tariffs. Relative to the average retiree benefit of $2,008, a 2.8% COLA increase translates to around $56 more per check. It is also worth noting that the Medicare Part B premium is projected to face an 11.6% increase in 2026, bringing the cost of the premium up from $185 to $206.50. Since Part B premiums are automatically deducted from benefits, the premium hike will effectively reduce the value of the average COLA increase from $56 to around $35.
As such, in a social media post made on October 24th following the official COLA announcement, Sen. Elizabeth Warren wrote the following: “Donald Trump is building a $300 million luxury ballroom and sending $40 BILLION to Argentina. But when the cost of groceries, health care, utilities — just about everything — is skyrocketing, America’s seniors only get another $56 a month. That’s not enough in Trump’s economy.”
Subsequently in a statement, Warren referred to the Social Security Emergency Inflation Relief Act as an “emergency lifeline for seniors struggling to afford Trump’s tariffs and rising inflation.” If passed, the proposed bill would be implemented in addition to the already confirmed 2.8% COLA increase.
What are the senators who proposed the bill saying?
In a news release, Senator Kirsten Gillibrand of New York who has also co-signed onto the proposed bill, said the following: “Americans deserve to retire with dignity, not spend their golden years just trying to get by. Our seniors have spent a lifetime of hard work paying into Social Security, but the payouts simply aren’t keeping up with rising costs, and this year’s annual cost-of-living adjustment is not enough to keep seniors afloat.”
“While Donald Trump sends $40 billion to Argentina, I’m proposing sending American seniors on Social Security an extra $200 a month to offset higher prices. The cost of everything from coffee to beef to health care is up, in large part due Trump’s chaotic tariffs, and Democrats are fighting to deliver some financial relief and lower costs for Americans. This new legislation to expand Social Security is an emergency lifeline for seniors struggling to afford Trump’s tariffs and rising inflation,” Sen. Warren stated in a news release.
“Seniors face difficult decisions as they see their bank accounts shrinking and the Social Security cost-of-living adjustment is simply not reflective of the current reality,” Schumer also stated. “I urge Republicans to join with us to help offset the cost of Trump’s inflationary trade war and give seniors the money they deserve.”