There are now multiple press reports that President Obama will agree to a fiscal deal that enacts a so-called a�?Chained CPIa�? to calculate Social Security and veteransa�� benefits. Under this plan, beneficiaries would get cuts in their cost of living adjustments.
In the last day, Democratic Congressman-elect Mark Takano (CA) joined progressive organizations and A�Democratic Reps. Nadler (NY), Conyers (MI), Lee (CA), Johnson (GA), Edwards (MD),A�Schakowsky (IL), Grijalva (AZ), Rangel (NY), and Ellison (MN)A�andA�Democratic Sens. Durbin (IL), Brown (OH), and Merkley (OR) in opposing this idea.A�This morning, newly-elected Congressman Jared Huffman (D-CA) made his thoughts clear in a statement to us:
a�?I do not support reducing Social Security benefits or raising the Medicare eligibility age, nor do I support giving ground on the upper income tax rate.A� I will be disappointed if these items are part of a fiscal cliff deal.A� Instead of targeting seniors and the poor while giving more tax concessions to those who dona��t need them, the House should simply vote on the bipartisan middle class tax cut already passed by the Senate, and then focus spending reductions on our over-sized military budget and cuts that do not hurt struggling families, like the huge subsidies for the oil industry.a�?
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