Congresswoman Tammy Duckworth (IL-08) and Senator Elizabeth Warren (D-MA) renewed their call for Congress to pass the Seniors and Veterans Emergency (SAVE) Benefits Act, which they introduced to boost Social Security and other critical benefits for seniors, Veterans, and Americans with disabilities. This follows this week’s announcement by the Social Security Administration (SSA) that the cost-of-living adjustment (COLA) will be 0.3 percent for 2017, after a zero COLA in 2016. Warren sponsors the legislation along with 22 Democrats in the Senate and Duckworth sponsors it along with 58 Democrats in the House. The SAVE Benefits Act would give about 70 million seniors, Veterans, Americans with disabilities, and others an emergency payment equal to 3.9 percent of the average annual Social Security benefit, about $581 – the same percentage raise that top CEOs received last year. A $581 increase could cover almost three months of groceries for seniors or a year’s worth of out-of-pocket costs on critical prescription drugs for the average Medicare beneficiary. The bill would lift more than 1 million Americans out of poverty. The cost of this emergency payment would be covered by closing a tax loophole allowing corporations to write off executive bonuses as a business expense for “performance pay.” The substantial additional revenue saved by closing the CEO compensation loophole would be used to bolster and extend the life of the Social Security and Disability trust funds.