Ellison: Chained CPI Would Hurt Veterans

Fifth District Congressman Keith Ellison is pointing to veterans organizations to bolster his case against a proposal to change the way inflation is calculated.

The Veterans of Foreign Wars, Iraq and Afghanistan Veterans of America, AMVETS, and the Blinded Veterans Association have all come out against using a so-called “chained consumer price index” that would grow Social Security benefits at a slower rate than they grow under the current formula, Ellison noted, citing a Friday Forbes article.

Ellison opposes the proposed chained CPI because he said it amounts to a cut in Social Security benefits. A Tuesday news release quoted Ellison as saying:

It would be against the most basic principles we hold as Americans to cut the already limited benefits Minnesota’s veterans rely on through Social Security. Minnesota Veterans would be some of the hardest hit by cuts to Social Security benefits, known as ‘Chained CPI. Our state is home to over 400,000 veterans. Together, our veterans make up more than 10 percent of our population. Veterans already face major challenges. Not only do they need physical and mental health care as a result of war, but they are more likely to be out of work. At a time when we should be doing everything we can to invest in getting our veterans working again, we cannot be threatening to cut their livelihood.