Rich Fiesta, Executive Director of the Alliance for Retired Americans, joined the America’s Work Force Union Podcast to discuss the recent Social Security cost of living adjustment (COLA) and urged for changes to the method to calculate it. He also addressed how the Alliance is spreading the word about their endorsed candidates ahead of November’s General Election.
The Social Security Administration recently announced Social Secruity COLA will be 2.5 percent in 2025. Fiesta described how COLA is calculated and then offered a better way to determine the increase. COLA is currently calculated by the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). However, he feels the Consumer Price Index for Americans 62 years of age and older (R-CPI-E) is a better gauge. CPI-W does not measure senior spending. If R-CPI-E were used, it would have resulted in a 3 percent COLA increase.
The discussion then turned to the upcoming election. Fiesta stated that Alliance for Retired Americans volunteers are working in many states to help spread the word on their endorsed candidates for President, Senate and House of Representatives. He said. the Alliance for Retired Americans Political Action Committee is currently running independent expenditure ad campaigns explaining how Kamala Harris will work for union households and older Americans.
Fiesta also discussed some of his concerns regarding Project 2025, a conservative game plan for regulations to be implemented by the federal government. He outlined the potential impact of these regulations on senior citizens.
Listen to the show above to hear more from Fiesta.