Projected Cola For Fiscal Year 2024-25. The result is that more and more seniors are facing bigger tax bills every year. Social security benefits are now on pace to get a 2.6% cola next year, according to tscl statistician alex moore.

In cbo’s projections, real consumer spending increases by 1.3 percent in 2024, roughly half of last year’s growth rate, and then rebounds in 2025 to grow by 1.9 percent. The current social security cola projection for 2025 is 2.5%, according to the senior citizens league.