Larson Announces Vote To Provide Seniors With One-Time $250 Payments
FOR IMMEDIATE RELEASE: October 14, 2010
CONTACT: Emily Barocas/202-225-7295
LARSON ANNOUNCES VOTE TO PROVIDE SENIORS WITH ONE-TIME $250 PAYMENTS
Hartford, CT – Congressman John B. Larson (CT-01) released the following statement after House leadership announced today that we will move ahead with legislation to provide America's seniors with a one-time $250 payment. The Social Security Administration is expected to announce on Friday there will be no Cost-of-Living-Adjustment for 2011. That means that for the first time ever, 2011 will be the second consecutive year that Social Security retirees, veterans, and people with disabilities will see no increase in their monthly Social Security, SSI, VA Pension and Compensation, and Railroad Retirement benefits. This unprecedented situation is a result of economic conditions, not the result of Congressional or Presidential action or inaction.
"Earlier this week, I called for Congress to enact a one-time payment to seniors who are just learning they will not receive a cost-of-living adjustment to their Social Security benefits. I am happy to announce that my Democratic colleagues in the House agree that we cannot let seniors suffer during these difficult economic times. We will move ahead quickly to provide seniors and other Social Security beneficiaries with these one-time payments.
"These payments are good not only for our seniors, but for our economy as well. In fact, a recent study by the Economic Policy Institute showed that similar payments to seniors in 2009 strengthened the economy, increasing the nation's GDP by 0.5% in the second quarter of the year, and creating or saving 125,000 American jobs.
###