Vermont senators join Warren in pushing benefit boost
MONTPELIER, VT. >> Vermont's two U.S. senators are joining Massachusetts Sen. Elizabeth Warren in pushing for a boost in federal benefits for seniors and veterans.
Beneficiaries are currently slated to see a cost of living adjustment of zero next year, but the New England senators want to offer them a one-time supplemental payment of $581, which they say would equate to about 3.9 percent of average annual Social Security benefits.
Sen. Patrick Leahy says that's the same percentage increase that the average CEO at the nation's top 350 companies received last year.
The increase would be paid for by closing a tax loophole for corporations to write off executive bonuses as performance pay.