Social Security Benefits: Is there an additional monthly payment of $200?

A bill introduced in Congress by Rep. Peter DeFazio (D-Ore.) and Sen. Bernie Sanders (I-Vt.) would put an additional $200 in the pockets of Social Security recipients.

DeFazio and Sanders introduced the Social Security Expansion Act (SSEA) on June 9, according to a Press release from DeFazio’s office.

The law would “strengthen and expand Social Security benefits” and increase cost-of-living adjustments “for current and future generations.”

The bill was introduced after the The Social Security Administration says Americans won’t receive benefits in 13 years if congressional lawmakers don’t address the funding crunch.

The new bill would allocate an additional $200 a month to each Social Security recipient — a 12% increase in cash, according to CBS News.

According to Social Security AdministrationSocial Security benefits rose 5.9%, the largest increase since 1982.

“Many, many seniors depend on Social Security for most, if not all, of their income,” said Martha Shedden, president of the National Association of Registered Social Security Analysts, told CBS News. “$200 a month can make a significant difference for many people.”

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Elaine R. Knight