Will the Government Shutdown Impact the 2026 Social Security COLA?

The government has been shut down since Oct. 1, after Congress was unable to pass a funding bill for the new fiscal year that started this month. With severe disagreements between Republicans and Democrats, many government agencies will remain closed indefinitely. Only essential services are allowed to continue operating, and government workers who aren't furloughed are expected to continue working without pay until the shutdown is resolved.Thankfully for the 70 million Americans receiving monthly Social Security benefits, those payments are considered essential. And for many households that's the absolute truth. An important aspect of the program for households relying on Social Security to make ends meet is the annual cost-of-living adjustment, or COLA. Without it, many of those recipients would find their finances falling behind the rising prices stemming from inflation.While payments are continuing amid the shutdown, many may be wondering what it means for next year's COLA.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool