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Saturday, August 13, 2022

Is A 4th Stimulus Check Imminent For Social Security Recipients

With the chances of a 4th stimulus check for all fading as the federal administration remains preoccupied with the infrastructure and the social spending bill. But an advocacy group has appealed for a stimulus check of seniors as they desperately try to cope with high inflation and limited income.

The Senior Citizens League knows what they are up against, but the non-partisan promotion front has built up a campaign aimed at persuading the federal administration to push for additional stimulus checks for seniors.

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The group has written to Congress calling for a single stimulus check equivalent to the 3rd stimulus check of $1,400, according to TSCL Chairman Rick Delaney.

Social Security Beneficiaries Speak Of Hopelessness As They Await A Stimulus Check

The group has said that seniors are among the worst sufferers from the ensuing hardship as they battle to tackle high inflation rates after the pandemic. Many seniors have said they felt abandoned and have told the TSCL that the government has virtually abandoned them.

The Senior League is conscious that the federal administration is not likely to take any step. But they hope to gain ground next year and gather Congressional support when the proposal achieves sufficient support among seniors.

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The cost of living adjustment for seniors has not gone well. It has not even covered the inflationary costs. Besides, it will also push seniors into an upper tax bracket without imparting any real benefits to their quality of life.

Other than higher taxes, this increase will lead to higher surcharges in Medicare premiums. These would offset any temporary gains.

As a result of inflation, many seniors are going without their regular intake of medicine, or are foregoing meals every day.

The COLA has been announced at 5.9%. Seniors say that they are being forced to dip into their savings to survive.

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