Rep. Lois Capps, D-Santa Barbara, released on Thursday the following statement responding to the announcement that Chained CPI will not be included in President Obama’s fiscal year 2015 budget proposal:
“I applaud President Obama’s decision to not include Chained CPI in his budget proposal for fiscal year 2015," Capps said. "While I appreciate the president’s genuine effort to find bipartisan common ground to reduce the deficit, I am pleased he has decided to protect the already meager Cost-of-Living-Adjustments for Social Security.
"Using Chained CPI to calculate benefits is a flawed policy that would cut benefits for our seniors, persons with disabilities and our veterans. Social Security has not contributed to our deficit, and we should not be balancing our budget on the backs of older Americans. I know we can build on the progress that has already been made in reducing the deficit without cutting fixed incomes, which are vital for senior citizens and so many others.”
Capps joined many of her colleagues in recently sending a letter to the president urging him not to include Chained CPI in his budget proposal. The letter is available by clicking here.
— C.J. Young is a press assistant for Rep. Lois Capps, D-Santa Barbara.