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Title: Cutting the Social Security COLA Would Especially Hurt Women

Citation Type: Working Paper

Publication Year: 2011

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Abstract: Various deficit-reduction plans have proposed changing the way increases in the cost of living are calculated under federal law. Specifically, they would replace the currentConsumer Price Index (CPI) with a new chained CPI that would produce lower annual estimates of increases in the cost of living. Shifting to the chained CPI would reduce federal spending by reducing the annual Cost-of-Living Adjustment (COLA) in various federal benefit programs, including Social Security. It also would increase revenues (although by a smaller amount than it would cut spending), by reducing the inflation adjustment in tax brackets and some other tax provisions.Policy makers engaged in deficit reduction talks are reportedly considering the proposal, which was recently endorsed in a Washington Post editorial that claimed,This Cut Wont Hurt. However, the facts show otherwise.

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Authors: Gallagher Robbins, Katherine; Entmacher, Joan

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Institution: National Women's Law Center

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Publisher Location: Washington, D.C.

Data Collections: IPUMS CPS

Topics: Aging and Retirement, Gender, Other

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