Americans may receive an additional $361 per month in 2023 under the COLA Social Security payment schedule for 2022; here’s how.

The way adjustments are calculated is being changed by lawmakers.

Rep. introduced the Social Security 2100 Act. According to CNBC, John Larson advises switching to the CPI-E.

President Joe Biden advocated for this and other Social Security reforms during his campaign.

Social Security and senior advocacy organizations like The Senior Citizens League have also pushed for changes to the CPI-E, which was implemented in 1987 by the US Bureau of Labor Statistics on orders from Congress.

Nancy Altman, the head of the advocacy group Social Security Works, stated in written testimony submitted for a congressional hearing in December that the transition would not result in a benefit increase.

“It simply ensures that benefits do not erode over time,” Altman wrote.

Micheal Kurt

I earned a bachelor's degree in exercise and sport science from Oregon State University. He is an avid sports lover who enjoys tennis, football, and a variety of other activities. He is from Tucson, Arizona, and is a huge Cardinals supporter.

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