10.13.22

Cantwell Statement on Social Security Rate Increase

WASHINGTON, D.C. – Today, the Social Security Administration announced that Social Security recipients will receive an 8.7% increase in their benefits in 2023, the largest cost-of-living adjustment in more than 40 years.

Sen. Maria Cantwell (D-WA) released the following statement:

"I applaud this effort to give seniors and people with disabilities more financial stability," said Senator Cantwell. "The cost of living increase is welcome relief to the millions of Americans who rely on Social Security and Supplemental Income benefits. I will continue to work in the Senate to uphold the integrity of the Social Security program."

Approximately 70 million Americans receive Social Security benefits. The average Social Security retiree benefit will increase by $146 per month, from $1,681 in 2022 to $1,827 in 2023.

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