Larson Statement on the 2027 Social Security COLA Announcement

October 14, 2026 Press Release Washington, D.C. - Today, House Social Security Subcommittee Ranking Member John B. Larson (CT-01) released the following statement after the Social Security Administration (SSA) announced a 3.6 percent Social Security Cost-of-Living Adjustment (COLA) for 2027. “Today’s announcement demonstrates just how hard President Trump’s affordability crisis has hit our seniors," said Larson. “As Americans struggle to make ends meet, a small bump in benefits is always welcome news—but for many seniors living on fixed incomes, it won’t be enough to keep pace with rising costs. With insolvency looming, we are only a few years away from automatic benefit cuts for everyone on Social Security if Congress does not act. Rather than come to the table with solutions, this administration and their allies in Congress have been laser-focused on breaking the system from within, so they can privatize Social Security. They have slashed staff and services at the Social Security Administration, making it harder for seniors to get their benefits in full and on time, and Speaker Johnson has even teased a plan to cut benefits if Republicans hold their majorities in the House and Senate. We cannot let that happen. Americans are depending on their Congress to enhance benefits—not cut them—and Democrats are ready to act. Our plan will stop these automatic cuts, boost benefits across the board, and ensure no one can retire into poverty after a lifetime of work, all by finally making the ultra-wealthy pay their fair share. It is time for a vote.” The annual Social Security Trustees Report released this summer confirmed that Congress must act and that failed Trump policies, including the Big, Ugly Bill, mean that Social Security’s insolvency is closer than ever. Inaction will lead to the average senior losing about $500/month in Social Security benefits in 2032. Ranking Member Larson’s Social Security 2100 Act would enhance Social Security benefits to help beneficiaries dealing with rising costs and extend the program’s solvency by eliminating the FICA cap and imposing a net investment income tax on income over $400,000. Issues : Affordability and the Economy Congressman Larson's Committees Social Security Standing Up to Trump and ‘DOGE’