A Second Consecutive Trump Bump Has Social Security's 2027 COLA on Pace for a Double Dose of History
President Donald Trump's policies should allow Social Security's annual raise to make history on two fronts in 2027.
Overview
For the nearly 55 million retired workers who received a Social Security benefit in July, their payout is more than just a monthly check. A quarter-century of surveys from national pollster Gallup shows that Social Security income is necessary to make ends meet for up to 90% of retirees.
Given how foundational this income is to our nation's aging workforce, it should come as no surprise that the annual cost-of-living adjustment (COLA) reveal in October is one of the year's most anticipated events. Social Security's COLA is effectively a raise passed on to recipients to offset the effects of inflation (rising prices).
Details
Social Security's 2027 COLA is shaping up to be something special. For a second consecutive year, it's set to be influenced by President Donald Trump's policies (i.e., a "Trump bump"), which should lead to history being made on two fronts.
Source
Originally published at www.fool.com.