WASHINGTON, Dec. 8, 2010 /PRNewswire-USNewswire/ -- Speaker Nancy Pelosi released the following statement this afternoon after House Republicans refused to support the Seniors Protection Act. As we enter the second consecutive year without a cost-of-living adjustment for Social Security retirees and other beneficiaries, this legislation would have echoed the help provided in 2009 in the Recovery Act and provided 54 million Social Security recipients with a one-time payment of $250 to help them make ends meet during this tough time:
"The Seniors Protection Act is an investment in the economic stability of our seniors, veterans, people with disabilities, and all who depend on Social Security to make ends meet. And it offers support to the millions of seniors trying to pay the bills, confronting rising expenses and falling home values, and struggling to get by.
"This legislation is critical to our seniors and is fiscally responsible, but unfortunately, congressional Republicans overwhelmingly chose to oppose it. While Democrats maintain a strong record protecting, upholding, and strengthening Social Security, Republicans continue to advocate risky schemes to privatize it and cut benefits. America's seniors deserve better.
"I commend all of my colleagues who supported this bill, and I thank Social Security Subcommittee Chairman Earl Pomeroy for his outstanding leadership. Democrats will always stand with our nation's seniors."
SOURCE Office of the Speaker of the House