The latest cost-of-living projection for 2026 shows that seniors could see less of a Social Security increase than last year.
The 2026 COLA is estimated to be around 2.3%, according to the Senior Citizens’ League.
This prediction is 0.2 percentage points lower than last year’s COLA of 2.5%.
This may seem like bad news for retirees, who are struggling to keep up their cost of living with inflation.
However, there are some legislators in Congress that are looking to ameliorate the situation.
Rep. Thomas Massie, R-Kentucky, has reintroduced a bill that would get rid of income taxes on Social Security benefits.
The legislation, the Senior Citizens Tax Elimination Act, was originally proposed in 2023.
The average monthly benefit as of January 2025 is $1,837.91, according to the Social Security Administration (SSA).
Social Security Updates & News
- Social Security schedule 2025: When do I get my February check?
- Social Security payments 2024: Some recipients will get an extra check in November
- Social Security Increase 2025: Everything to know about the new COLA
- Social Security increase 2025: Here’s the latest forecast, which is the smallest in 3 years
- Social Security login changes for millions of people: What to know about the switch
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Katherine Rodriguez can be reached at krodriguez@njadvancemedia.com. Have a tip? Tell us at nj.com/tips.