Everyone receiving Social Security and Supplemental Security Income benefits will get a little more starting in January. Congressman Fred Upton calls the 2.8% cost of living adjustment important.
“I serve on the bipartisan Social Security caucus, and have always supported cost of living adjustments,” Upton tells WSJM News. “Word has come out that we will get a decent increase, more than we’ve seen for the last 10 years.”
As for politicians that threaten to cut Social Security or accuse others of wanting to do so, the St. Joseph Republican says they’re wrong.
“It’s sad when politics is used to scare folks to thinking Social Security is going to be cut,” he says. “That’s the bottom line, and we’re seeing that in some ads around the country.”
Over 62 million people receiving Social Security will get the increase in January, and over 8 million SSI beneficiaries will get the bump on December 31. The Social Security Administration says there are some who receive both benefits. Additionally, the maximum amount of earnings subject to the Social Security tax will go up to $132,900 in January.
