HONOLULU — U.S. Sen. Brian Schatz of Hawaii on Thursday spoke out in favor of legislation to bolster Social Security that he is co-sponsoring with fellow Democratic Sens. Tom Harkin of Iowa and Mark Begich of Alaska.

The bill would keep Social Security solvent through 2049 and increase benefits by about $65 a month. It would also change the way cost of living adjustments are calculated to more accurately reflect the costs seniors face, Schatz told reporters at a news conference.