article: SECTION 1. SHORT TITLE. This Act may be cited as the ``Economic Fairness for Seniors Act''. SEC. 2. MEDICARE PART B PREMIUM FOR 2010. Section 1839 of the Social Security Act (42 U.S.C. 1395r) is amended-- (1) in subsection (a), by adding at the end the following new paragraph: ``(5) The monthly premium under this subsection for 2010 shall be the monthly premium under this subsection for 2009.''; and (2) in subsection (i)(3)(A), by adding after and below clause (ii) the following: ``In applying clause (ii) for 2010, the monthly actuarial rate described in such clause shall be such monthly actuarial rate for 2009.''. SEC. 3. EXTENSION OF CERTAIN ECONOMIC RECOVERY PAYMENTS. (a) In General.--Section 2201 of the American Recovery and Reinvestment Tax Act of 2009 is amended-- (1) by inserting ``in each of calendar years 2009 and 2010'' after ``the Secretary of the Treasury shall disburse'' in subsection (a)(1)(A); (2) by inserting ``(for purposes of payments made for calendar year 2009), or the 3-month period ending with the month which ends prior to the month that includes the date of the enactment of the Economic Fairness for Seniors Act (for purposes of payments made for calendar year 2010)'' after ``the month that includes the date of the enactment of this Act'' in subsection (a)(1)(A); (3) by inserting ``(for purposes of payments made under this paragraph for calendar year 2009), or the 3 month period ending with the month which ends prior to the month that includes the date of the enactment of the Economic Fairness for Seniors Act (for purposes of payments made under this paragraph for calendar year 2010)'' after ``the month that includes the date of the enactment of this Act'' in subsection (a)(1)(B)(iii); (4) by inserting ``for any calendar year'' after ``1 payment under this section'' in subsection (a)(3); (5) by inserting ``An individual who is entitled to, or eligible for, a benefit or cash payment described in paragraph (1) in both of the 3-month periods described in paragraph (1)(A) shall be paid a payment under this section in each of calendar years 2009 and 2010.'' at the end of paragraph (3) of subsection (a); (6) by inserting ``in same year'' after ``No double payments'' in the heading of paragraph (3) of subsection (a); (7) by inserting ``applicable'' before ``3-month period'' in subsection (a)(4)(A); (8) by inserting ``applicable'' before ``3 month period'' in subsection (a)(4)(B); (9) by inserting ``for purposes of payments made for calendar year 2009, or after December 31, 2011, for purposes of payments made for calendar year 2010,'' after ``December 31, 2010,'' in subsection (a)(5)(B); (10) by striking ``2011'' in subsection (e) and inserting ``2012''; (11) by striking ``$90,000,000'' in subsection (e)(2)(B) and inserting ``$135,000,000''; (12) by striking ``$1,400,000'' in subsection (e)(3)(B) and inserting ``$2,100,000''; (13) by striking ``$100,000'' in subsection (e)(4)(A)(ii) and inserting ``$150,000''; and (14) by striking ``$7,100,000'' in subsection (e)(4)(A)(ii) and inserting ``$10,650,000''. (b) Extension of Special Credit for Certain Government Retirees.-- In the case of an eligible individual (as defined in section 2202(b) of the American Recovery and Reinvestment Tax Act of 2009, applied by substituting ``2010'' for ``2009''), with respect to the first taxable year of such individual beginning in 2010, section 2202 of the American Recovery and Reinvestment Tax Act of 2009 shall be applied by substituting ``2010'' for ``2009'' each place it appears. SEC. 4. CONSUMER PRICE INDEX FOR ELDERLY CONSUMERS. (a) Study.--The Bureau of Labor Statistics of the Department of Labor shall study whether a consumer price index for elderly consumers (CPI-E) more accurately reflects the true costs of inflation for elderly Americans than the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) and if the elderly are being financially disadvantaged by the use of the CPI-W in the determination of current benefit levels and, if so, shall prepare such a CPI-E. (b) Report.--Not later than 180 days after the date of the enactment of this Act, the Bureau of Labor Statistics of the Department of Labor shall report to Congress the results of the study required under subsection (a) and, if appropriate, the creation of a consumer price index for elderly consumers that more accurately reflects the true cost of inflation for the elderly. SEC. 5. OFFSET THROUGH REDUCTION IN TARP FUNDS. Paragraph (3) of section 115(a) of the Emergency Economic Stabilization Act of 2008 (12 U.S.C. 5225) is amended by striking ``$1,259,000,000'' and inserting ``$39,259,000,000''.
summary: Economic Fairness for Seniors Act - Amends title XVIII (Medicare) of the Social Security Act (SSA) to keep the same Medicare part B premium for 2010 that was in effect for 2009. Amends the American Recovery and Reinvestment Tax Act of 2009 (ARRA) to require an additional economic recovery payment (of $250) in calendar 2010 to certain beneficiaries of SSA title II (Old-Age, Survivors, and Disability Insurance) (OASDI), railroad retirement, or veterans benefits. Makes appropriations to fund such payments. Directs the Bureau of Labor Statistics (BLS) of the Department of Labor to study and report to Congress on: (1) whether a consumer price index for elderly consumers (CPI-E) more accurately reflects the true costs of inflation for elderly Americans than the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W); and (2) if the elderly are being financially disadvantged by the use of the CPI-W in the determination of current benefit levels. Requires the BLS to prepare such a CPI-E if elderly Americans are disadvantaged by the CPI-W. Amends the Emergency Economic Stabilization Act of 2008 (EESA) to offset the expenses of this Act through a reduction in Troubled Asset Relief Program (TARP) Funds.