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Tuesday, August 9, 2022

Stimulus Check Update: Seniors To Receive $1,400

The renewed cases of the pandemic have definitely fueled calls for another stimulus check payment. What makes things worse is that millions are still out there without any work- and the rate of unemployment is steadily climbing. The extra unemployment benefits also expired in early September, which did imply that workers would be able to engage more with the economy. While most of them have already gone back to employment, there is a large section of the population that hasn’t yet found any gainful employment. 

Quite a major chunk of the population has also not been seeing the economic recovery that the federal government claimed. The third stimulus check payments which were a part of the American Rescue Plan went on to put around $1,400 in more than 169 million bank accounts. However, several individuals haven’t yet received the money. Several citizens have called up the IRS about it, but the agency told them that this was a simple technical error- but they couldn’t probably empathize with the suffering of the individual who hasn’t yet received their $1,400. 

Stimulus check for seniors picks up steam

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A fourth stimulus check in the country could definitely be pretty targeted. They would either be hinted towards a specific group- like older people that are surviving on Social Security- or the poorest of American citizens. Initially, there were debates in Congress that another round of stimulus relief could only be possible if they were specifically targeted at the section of the population that made under $40,000 annually. 

Now, since Congress hasn’t intimated the media about its plans of launching a stimulus check for the elderly, it can be assumed that they don’t have any such plans yet. This has led the Senior Citizens League to launch a petition that calls for stimulus payments of $1,400 for retirees on Social Security. The reason behind this is inflation- and Social Security is also predicted to get a big bump.

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