WASHINGTON, D.C. – U.S. Representative Walter B. Jones (R-NC) this week introduced H.R. 3557, legislation that would provide an emergency cost-of-living increase for Social Security benefits for 2010. This legislation follows a recent forecast by the Congressional Budget Office that seniors will receive no cost-of-living adjustment (COLA) for 2010.

“In the wake of massive government spending on Wall Street bailouts, ‘community organizers’ like ACORN and other unnecessary pet projects, which I opposed, I am extremely disappointed that our nation's seniors are being refused a modest Social Security cost-of-living adjustment (COLA) in 2010,” Congressman Jones said.

“As gas prices remain elevated and seniors struggle to pay their mounting bills, Congress needs to reign in unnecessary spending and instead focus on actual needs, like ensuring that our seniors are granted the COLA they need to help make ends meet,” Jones continued. “Because Social Security benefits are calculated using faulty methods that fail to account for the true cost of inflation, COLA’s have been less than actual inflation and seniors’ purchasing power has been dramatically eroded as a result. This legislation would help alleviate this problem.”

H.R. 3557 is expected to provide a reasonable 2010 COLA update of three percent, which is estimated to increase Social Security benefits by approximately $35 per month on average.

For additional information, or to schedule an interview with Congressman Walter Jones, please contact Kathleen Joyce at 202-225-3415.