New legislation could expand Social Security benefits
ROCHESTER, N.Y. — Senator Kirsten Gillibrand announced legislation that would expand Social Security benefits on Wednesday.
Social Security benefits are adjusted for inflation each year. But Gillibrand says adjustments in recent years don’t adequately take into account the rising cost of health care.
She says the legislation aims to correct an issue with the cost-of-living adjustment calculation. She hopes this can result in higher benefits, that better reflect older adults’ true cost of living.
Gillibrand also said she wants to make it so all Americans, regardless of how much they make, would pay 6% of their income into Social Security.