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Thursday, August 11, 2022

Stimulus Check Update: When Should SS Beneficiaries Expect Their Payment?

Congress has already received some major pressure from the Senior Citizens League to push for another stimulus check payment worth $1,400. This is because of the increasing uncertainty in the United States after a major rise in infections of COVID-19 since the emergence of the new variant of Omicron.

This payment would definitely act as a fourth stimulus payment. The cost-of-living adjustment for 2022 has been increasing by the highest amount in four decades, pushing most of the seniors into a higher tax bracket, so this stimulus payment will be helping offset the extra costs.

Stimulus Check Payment Hasn’t Been Made To SS Beneficiaries 

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Over the last two decades, COLAs have increased the benefits of Social Security by 55%, which has been affecting seniors due to the general costs which have been outpacing the increase with the COLA, as shown by the fact that the major costs of housing and healthcare increased by 118% and 145%, respectively. Rick Delaney, the TSCL Chairman, has stated from thousands of them who have exhausted their retirement savings.

Many have already written to The Senior Citizens League that the government has forgotten about their subsistence, precisely why they have been looking for a $1,400 stimulus check for the recipients for Social Security. 

Around 95,000 people have already signed the petition from TSCL about the $1,400 stimulus check for SS beneficiaries, so the pressure has been growing. The prices across the country have been increasing at quite an astronomical level, with the Bureau of Labor Statistics reporting that since October 2020, consumers have been paying an average of 6.2% more across the market. 

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The House of Representatives recently passed the Build Back Better Act on Friday, November 19, and this does include some benefits for seniors, although there has been no sign for a stimulus check payment. 

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