1. Short title
This Act may be cited as the “COVID–19 Emergency Social Security Cost of Living Increase Act of 2020”.
COVID–19 Emergency Social Security Cost of Living Increase Act of 2020
A BILL
To provide an emergency cost-of-living increase for social security beneficiaries, and for other purposes.
2. Emergency cost-of-living increase
In general— Effective with the month of November 2020, the Commissioner of Social Security shall increase each of the amounts described in subclauses (I) through (III) of section 215(i)(2)(A)(ii) of the Social Security Act by not less than 3 percent.
Treatment of increase— For purposes of applying subparagraphs (A) and (B) of section 215(i)(1) of the Social Security Act in calendar year 2020, the increase under subsection (a) shall be treated as a general benefit increase under title II of the Social Security Act.
3. Computation of cost-of-living increases based on Consumer Price Index for Elderly Consumers
In general— Section 215(i)(1) of the Social Security Act (42 U.S.C. 415(i)(1)) is amended by adding at the end the following new subparagraph:
“(H) the term Consumer Price Index means the Consumer Price Index for Elderly Consumers (CPI–E, as published by the Bureau of Labor Statistics of the Department of Labor).”
Application to pre-1979 law—
In general— Section 215(i)(1) of the Social Security Act as in effect in December 1978, and as applied in certain cases under the provisions of such Act as in effect after December 1978, is amended by adding at the end the following new subparagraph:
“(D) the term Consumer Price Index means the Consumer Price Index for Elderly Consumers (CPI–E, as published by the Bureau of Labor Statistics of the Department of Labor).”
by striking “and by section 9001” and inserting “, section 9001”; and
by inserting “and section 3 of the COVID–19 Emergency Social Security Cost of Living Increase Act of 2020,” after “1986,”.
Publication of Consumer Price Index for Elderly Consumers— The Bureau of Labor Statistics of the Department of Labor shall prepare and publish the index authorized by section 191 of the Older Americans Amendments Act of 1987 (29 U.S.C. 2 note) for each calendar month, beginning with the date of enactment of this Act, and such index shall be known as the “Consumer Price Index for Elderly Consumers”.
Effective date— The amendments made by subsection (a) shall apply to determinations made with respect to cost-of-living computation quarters (as defined in section 215(i)(1)(B) of the Social Security Act (42 U.S.C. 415(i)(1)(B))) ending on or after September 30, 2021.