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Social Security Recipients May be Getting More Money

As stated in a previous post, COLA adjustments will see an increase in payments by 2.8%. But for those people living on Social Security benefits, this amount wonn’t seem to make much of an impact. This is because inflation will negate the benefits of that raise.

But according to a Newsweek report, there is an effort in government to raise payments by as much as $200 each month in the coming year. The Social Security Emergency Inflation Cat (S. 3078) seeks “to provide economic recovery payments to recipients of Social Security, supplemental security income, railroad retirement benefits, and veterans disability compensation or pension benefits”.

Within the language of the proposed legislation is text which states that the goal is to “support all Title II Social Security beneficiaries, Supplement Security Income (SSI) beneficiaries, Railroad Retirement beneficiaries, veteran disability compensation, and veteran pension benefit annuitants.”

As with anything in Washington, this is not a sure thing. There is a great deal of head-butting happening when it comes to spending of any kind. However, it is refreshing that lawmakers realize the need for an increase in benefit payments for people struggling to stay ahead.

Should this proposal pass, we could see it go into effect sometime between and January and June of 2026.