Rep. Madison Introduces Legislation to Increase State Social Security Payments for the First Time in 30 Years
MADISON – Today, Rep. Madison, Rep. Moore Omokunde, and Sen. Larson introduced LRB 4638 which would increase State Supplemental Security Payments for the first time since 1994. LRB 4638 would increase payments by the rate of inflation from 1994-2022 and include an annual cost-of-living adjustment moving forward, which aligns state payments with annual Federal Social Security Income cost-of-living adjustments.
More information on Wisconsin’s Supplemental Security Income program can be found in the Legislative Fiscal Bureau’s Info Paper #49 (January 2023).
Representative Madison (D-10) issued the following statement:
“Seniors and individuals living on fixed incomes have been the most impacted by a raging inflation rate of 19% since 2020. Individuals are being forced to cut necessary household expenses to keep up with the increased costs of groceries, medicine, transportation, housing, child care, and more. We must prioritize cost-of-living adjustments for individuals living on fixed incomes so that they can continue to budget for retirement and maintain their standard of living.
This legislation would increase the state portion of social security payments by the rate of inflation since 1994 and include annual cost-of-living adjustments moving forward. This would effectively double current state payments and maintain future purchasing power for individuals living on fixed incomes.”
NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. While it is believed to be reliable, Urban Milwaukee does not guarantee its accuracy or completeness.
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