US Social Security Benefit Cut Plans Raise Concern
US lawmakers are being urged to make sure Social Security payments and the yearly cost-of-living adjustment are not reduced. A report says one specific move could stop beneficiaries from losing about 22 per cent of their benefits. The article sets out the details of that move for readers who want to know more.
Context
Context: Social Security is the US government pension and disability program, funded by payroll taxes. The yearly cost-of-living adjustment raises payments to keep up with inflation, so any cut to it affects how much retirees can buy each year.
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