US SB3059

Requires Social Security cost-of-living adjustments (COLAs) to be calculated using whichever index produces a higher increase: the current Consumer Price Index for Urban Wage Earners (CPI-W) or the Consumer Price Index for Elderly Consumers (CPI-E)

Applies to benefits under Social Security (Title II), Special Benefits for Certain World War II Veterans (Title VIII), and Supplemental Security Income (Title XVI)

Directs the Bureau of Labor Statistics to publish a new Consumer Price Index for Elderly Consumers tracking spending patterns of Americans age 62 and older

Excludes other federal programs from using the higher COLA calculation, limiting the change to Social Security-related benefits only

Takes effect for cost-of-living computation quarters ending on or after September 30, 2026