Biden Campaigned on Social Security COLA Change, But Hasn't Pursued It as President

Joe Biden campaigned in 2020 on changing how Social Security COLAs are calculated, switching from the CPI-W to the CPI-E.

The CPI-E focuses more on healthcare costs and spending patterns for seniors aged 62+.

For 2024, the COLA would be 4% with the CPI-E, higher than the actual 3.2% based on the CPI-W.

Biden hasn't pushed for this COLA change as President, though polls show bipartisan support.

Using the CPI-E would worsen Social Security's financial issues, so broader reforms would likely be required.