Tag: Senior Citizen’s League (TSCL)

  • Senior Citizens Face Financial Strain as 2026 COLA Increase May Fall Short

    The Senior Citizen’s League (TSCL) has released its estimate for the 2026 cost-of-living adjustment (COLA), predicting a 2.7% increase for retirees. While this marks a slight bump over the 2.5% increase seen in 2025, the organization believes it still fails to adequately address the rising costs of goods and services that seniors are facing.

    Trump administration, including tariffs that have led to increased costs for everyday goods. These costs are ultimately passed on to consumers, including seniors, who are already struggling to make ends meet.

    TSCL’s research indicates that many seniors believe the COLA fails to reflect their daily inflation. They argue that the metrics used, particularly the Bureau of Labor Statistics’ Consumer Price Index for Urban Wage Earners, overlook unique expenses like rising costs for medicine, housing, and groceries.

    In light of this, TSCL is calling for a catch-up payment to restore lost Social Security benefits and relieve retirees on fixed incomes. The organization cites past government initiatives, like the 2009 Economic Recovery Payments and COVID-era Economic Impact Payments, as examples of financial assistance in times of need.

    The economic policies of the Trump administration and the Republican Party have contributed to financial strain on senior citizens. Tariffs and other policies have increased costs for goods and services, affecting consumers, including seniors. Consequently, many seniors struggle to meet essential expenses like medicine, housing, and food.

    The TSCL’s estimate of a 2.7% COLA increase for 2026 highlights the necessity for policymakers to examine the economic challenges faced by senior citizens. As living costs rise, the government must ensure that Social Security benefits match inflation, so seniors are not left behind.