Kamala Harris pledges to address Social Security's depletion and inadequate COLA for seniors.
Kamala Harris, the Democratic Vice Presidential candidate, has pledged to safeguard Social Security amid two pressing challenges. First, the program's trust funds are projected to be depleted by 2035, necessitating potential solutions like raising taxes on the wealthy or altering retirement age. Second, current cost-of-living adjustments (COLA) are inadequate for seniors, as they rely on the CPI-W. Harris may advocate for the CPI-E to better reflect seniors' expenses and preserve their purchasing power.
September 07, 2024
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