,,iii  #aacth ,,congress  #ast ,session 
,s4 ,,con4 ,,res4 #ae  ,,in ,,the       
,,senate ,,of ,,the ,,united ,,states   
,april #bd1 #bjac ,mr4 ,harkin 7for     
himself1 ,mr4 ,whitehouse1 ,mr4         
,sanders1 ,ms4 ,warren1 ,ms4 ,mikulski1 
,mr4 ,brown1 ,mr4 ,lautenberg1 ,mr4     
,franken1 ,mrs4 ,gillibrand1 ,ms4       
,hirono1 ,mrs4 ,hagan1 ,mr4 ,schatz1    
,mr4 ,merkley1 ,mr4 ,reed1 and ,mr4     
,begich7 submitted the following        
concurrent resolution2 which was        
referred to the ,committee on ,finance  
,,concurrent ,,resolution  ,expressing  
the sense of ,congress that the ,chained
 ,consumer ,price ,index should not be  
used to calculate cost-of-living        
adjustments for ,social ,security or    
veterans benefits1 or to increase the   
tax burden on low- and middle-income    
taxpayers4  ,whereas the ,social        
,security program was established more  
than #gg years before the date of       
agreement to this resolution and has    
provided economic security to           

generations of ,americans through       
benefits earned based on contributions  
made over the lifetime of the worker2   
,whereas the ,social ,security program  
continues to provide modest benefits1   
averaging approximately #a1aef per      
month1 to more than #eg1jjj1jjj         
individuals1 including #cg1jjj1jjj      
retired workers in ,march #bjac2        
,whereas the ,social ,security program  
has no borrowing authority1 has         
accumulated assets of                   
#b1gjj1jjj1jjj1jjj1 and1 therefore1 does
 not contribute to the ,federal budget  
deficit2 ,whereas the ,board of         
,trustees of the ,federal ,old-,age and 
,survivors ,insurance ,trust ,fund      
projects that the ,trust ,fund can pay  
full benefits through #bjcb2 ,whereas   
the ,social ,security program is        
designed to ensure that benefits keep   
pace with inflation through             
cost-of-living adjustments 7referred to 
in this preamble as ,c,o,l,as7 that are 
based upon the measured changes in      

prices of goods and services purchased  
by consumers that is currently published
 by the ,bureau of ,labor ,statistics as
 the ,consumer ,price ,index for ,urban 
,wage ,earners and ,clerical ,workers   
7,,cpi-,w72 ,whereas the ,bureau of     
,labor ,statistics publishes a          
supplemental measure of inflation1 the  
,chained ,consumer ,price ,index for all
 ,urban ,consumers 7,c-,,cpi-,u71 or    
,chained ,,cpi1 which adjusts for       
projected changes in consumer behavior  
resulting from price fluctuations known 
as the substitution effect2 ,whereas the
 substitution effect occurs when        
consumers buy more goods and services   
with prices that are rising slower than 
average and fewer goods and services    
with prices that are rising faster than 
average2 ,whereas studies indicate that 
typical ,social ,security beneficiaries 
spend a significantly higher percentage 
of their budget than other consumers on 
health care1 health care prices have    
increased at higher than average rates1 

and consumers1 including seniors1 may   
not be able to substitute health care   
easily2 ,whereas the current ,c,o,l,as1 
based on the ,,cpi-,w1 fail to reflect  
that ,social ,security beneficiaries    
spend more of their income              
proportionally on expenses such as      
health care as compared to a regular    
wage earner1 and therefore underestimate
 increases in the cost of living of     
,social ,security beneficiaries2        
,whereas the ,congressional ,budget     
,office has estimated that using the    
,chained ,,cpi to calculate ,social     
,security ,c,o,l,as would reduce ,social
 ,security benefits by #j4be percent per
 year1 resulting in a reduction in      
outlays of #abg1jjj1jjj1jjj over the    
first decade2 ,whereas reductions in    
,social ,security benefits from using   
the ,chained ,,cpi to calculate ,social 
,security ,c,o,l,as would continue to   
compound over time1 and the ,,aarp      
,public ,policy ,institute estimates    
that the reductions would grow to #c    

percent after #aj years and #h4e percent
 after #cj years2 ,whereas ,social      
,security ,works estimates that using   
the ,chained ,,cpi to calculate ,social 
,security ,c,o,l,as would reduce annual 
,social ,security benefits of the       
average earner by #feh at age #ge1      
#a1adg at age #he1 and #a1fbb at age    
#ie2 ,whereas reductions in ,social     
,security benefits would harm some of   
the most vulnerable populations in the  
,united ,states2 ,whereas adopting the  
,chained ,,cpi would cause tax brackets 
and the standard deduction to rise more 
slowly1 disproportionately raising the  
tax burden on low- and middle-income    
taxpayers2 ,whereas the ,department of  
,veterans ,affairs provides more than   
#c1bjj1jjj veterans with disability     
compensation benefits as a result of    
injuries or illnesses sustained during1 
or as a result of1 military service2    
,whereas ,social ,security ,works       
estimates that using the ,chained ,,cpi 
to calculate veterans disability        

,c,o,l,as would reduce benefits for     
#ajj-percent-disabled veterans who      
started receiving benefits at age #cj by
 #a1dbe at age #de1 #b1cda at age #ee1  
and #c1bca at age #fe2 and ,whereas     
adopting the ,chained ,,cpi would also  
cut the benefits of more than #cej1jjj  
surviving spouses and children who have 
lost a loved one in battle by cutting   
,dependency ,indemnity ,compensation    
benefits that average less than #ag1jjj 
per year3 ,now1 therefore1 be it  ,that 
it is the sense of ,congress that the   
,chained ,consumer ,price ,index should 
not be used--  7#a7 to calculate cost of
 living adjustments for ,social         
,security benefits or benefits for      
disabled veterans and their survivors2  
or  7#b7 to increase the tax burden on  
low- and middle-income taxpayers4