Here's what the White House is expecting today's Social Security COLA increase to be Alex Gangitano -

Here's what the White House is expecting today's Social Security COLA increase to be
Alex Gangitano -

(The Hill) — The White House predicted that Americans on Social Security will see a $140 per month increase ahead of Thursday when the Social Security Administration is expected to announce a cost of living adjustment (COLA).

"Tomorrow, seniors and other Americans on Social Security will learn precisely how much their monthly checks will increase – but experts forecast it will be $140 per month, on average, starting in January. For the first time in over a decade, seniors' Medicare premiums will decrease even as their Social Security checks increase," White House press secretary Karine Jean-Pierre said in a statement.

The COLA is expected to change by at least 8 percent, which would be the largest increase in four decades. The annual adjustment is determined by inflation, which fell to 9.1 percent and 8.6 percent in July and August, respectively.


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