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Use Chained CPI for Cost of Living Adjustments

Ties cost of living determinations for federal benefits and taxes to the Bureau of Labor Statistics' "chained" Consumer Price Index, which grows more slowly than the standard CPI, reducing the federal deficit by $299 billion over ten years.

This is a proposal by the Bowles-Simpson Commission that was originally considered by the Super Committee and is reportedly under consideration during the "Fiscal Cliff" talks. (Source: Bowles-Simpson Commission and House Republicans.)

This proposal was proposed in a previous session of Congress. You can no longer write a comment about this proposal.

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33% Support
66% Oppose
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Endorsing Organizations

Committee for a Responsible Federal Budget 3,120 Facebook fans 4,004 Twitter followers

To correct the problem of over-indexation, many have proposed switching to the chained CPI to provide a more accurate measure of inflation for indexed provisions in the federal budget. This switch was recommended by the National Commission on Fiscal Responsibility and Reform (“FiscalCommission”) and the Bipartisan Policy Center’s Debt Reduction Task Force (“Domenici-Rivlin”). It has been incorporated into a large number of other plans, including from the Heritage Foundation on the right and the Center for American Progress on the left. An overwhelming majority of economists from both parties agree that the chained CPI is afar more accurate measure ...

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