Pelosi Statement on New Increase in Social Security Benefits

Press Release

Speaker Nancy Pelosi issued this statement after the Social Security Administration announced that benefits will increase by 8.7 percent:

"This year's cost-of-living boost in benefits is an important reminder that Social Security is the bedrock of financial security for America' seniors in challenging times. This increase in benefits, together with the historic action that Democrats' have delivered to lower seniors' prescription drug costs with the Inflation Reduction Act, shows the vital role Medicare and Social Security provide to protect seniors from rising costs.

"Yet with Social Security and Medicare as essential as ever, extreme MAGA Republicans are openly plotting new schemes to slash seniors' benefits and raise their costs -- including by threatening to cause an economic catastrophe by holding the debt limit hostage for their toxic agenda. Republicans are pledging to repeal the lower drug costs and 158 House Republicans have already endorsed an extreme MAGA plan to privatize Social Security, raise the retirement age and end Medicare as we know it.

"While extreme MAGA politicians play politics with people's lives, Democrats' commitment to Social Security, to Medicare and to our seniors is unshakable -- because we always put People Over Politics."

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