A bill to amend the XVIII of the Social Security Act to provide for the application of a consistent Medicare part B premium for all Medicare beneficiaries in a budget neutral manner for 2010, to provide an additional round of economic recovery payments to certain beneficiaries, and to assess the need for a consumer price index for elderly consumers to compute cost-of-living increases for certain governmental benefits.

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 in calendar 2010 to certain beneficiaries of SSA title II (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.