HOUSE RESOLUTION NO. 21
(By Mr. Speaker, Mr. Thompson, and Delegates Ashley, Barill, Barrett, Boggs, Butler, Craig, Diserio, Ferns, Ferro, Fleischauer, Guthrie, Hunt, Iaquinta, Jones, Manchin, Manypenny, Marcum, Marshall, Miley, Moore, Morgan, Moye, E. Nelson, Paxton, Perdue, Perry, Pethtel, R. Phillips, D. Poling, M. Poling, Poore, Reynolds, P. Smith, Stephens, Storch, Stowers, Swartzmiller, Tomblin, Walker, Wells, White, Williams and Young)
Calling upon the United States Congress to protect Social Security benefits.
Whereas, Social Security cost of living adjustments are currently based on the Consumer Price Index released annually by the United States Bureau of Labor Statistics. The United States Congress is considering changing the annual cost of living adjustments calculated for Social Security recipients; and
Whereas, The Chained Consumer Price Index finds smaller increases in consumer prices than the traditional Consumer Price Index by estimating how consumers may change their buying habits as prices change; and
Whereas, According to the Center for Economic and Policy Research, changing to the Chained Consumer Price Index would result in significant cuts to Social Security benefits: a cut of roughly three percent after 10 years, about six percent after 20 years, and close to nine percent over 30 years. For the average worker retiring at age 65, this would mean a cut of about $650 each year by age 75 and a cut of roughly $1,130 each year at age 85; and
Whereas, AARP estimates that this change would cut Social Security benefits by $112 billion over the next 10 years, leaving seniors struggling to keep up with the rising cost of utilities, health care and prescription drugs. Cuts would start now and get bigger every year; and
Whereas, The AARP estimates that ninety-two percent of West Virginians 65 or older, approximately 277,734 people, receive Social Security benefits. The average annual benefit is $13,500. Social Security makes up 70 percent of the annual income for a typical older West Virginian and 77 percent of annual incomes for low- and middle-income seniors; therefore, be it
Resolved by the House of Delegates:
That the West Virginia House of Delegates urges the United States Congress to protect the Social Security benefits that aid our most vulnerable citizens; and, be it
Further Resolved, That the West Virginia House of Delegates requests that the West Virginia Congressional Delegation support protecting Social Security for West Virginia seniors and vulnerable residents by voting against any legislation that would base cost of living adjustments to the Chained Consumer Price Index; and, be it
Further Resolved, That the Clerk of the West Virginia House of Delegates mail a copy of this resolution to the Vice President of the United States and the President pro tempore of the United States Senate, to the Speaker of the House of Representatives, to the Majority and Minority Leaders of both Houses of Congress, and to each United States Senator and Member of the House of Representatives from West Virginia.