BINGHAMTON, N.Y. -- As budget debates continue in Washington, members of the Southern Tier AARP chapter are calling on their representatives to protect social security benefits.
The organization is opposed to a current proposal that calls for a Chain CPI. Under a Chain CPI, the cost of living adjustment for social security benefits would be calculated according to the consumer price index, which doesn't account for inflation. AARP leaders say the cuts to benefits could be devastating for the oldest and poorest members of the community as well as veterans.
"AARP looks at it that it would really be saving our government money on the backs of seniors and veterans and that's something that we don’t want to happen. We want to protect social security benefits for everybody," said AARP Associate State Director Erin Mitchell.
According to the AARP, the Chained CPI would mean $129 billion in cuts for social security nationwide and more than $7 billion in cuts for New Yorkers. The organization says it would also cut veterans' benefits in New York by over $322 million.