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Tuesday, September 27, 2022

Stimulus Check Update: People On Social Security

There is a petition circulating that poses the question of Americans on Social Security getting a stimulus check- that has gained major traction. The petition does call for Congress to send a payment of $1,400 to those who were on a fixed income with Social security benefits.

A letter was issued to the government that detailed how the COLA increase of 5.9% wasn’t necessarily enough after the inflation. The Sun has further reported that not only did the increase help with inflation- it also pushed several past income limits for things such as Medicare. 

Will A Fourth Stimulus Check Happen?

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The possibility of a stimulus check doesn’t look possible. The Build Back Better bill has provisions to help seniors, but payment is definitely not one of them. The bill was aimed to pass by the end of 2021, but it doesn’t seem to have passed yet. As it stands, the last few months have seen Senator Mitt Romney drawing up a plan that he believes other Republicans would be supporting. Romney, who is usually a reasonable voice in the room, has also been talking to the Democrats about this proposal.

Mitt Romney’s proposal has been called the Family Security Act. According to the official website of the Senator, this stimulus check program would involve the complete modernization of federal support to most families by depositing a monthly cash benefit into the bank accounts of these families throughout the country. It would also push for more support to families during events of pregnancy and marriage. 

The Family Security Act calls for a stimulus check program of $350 a month for children who are under the age of 5, and a sum of $350 to children who are under the ages of 6 through 17. One would definitely notice that this would increase the total child tax credit for a young child all the way up to $4,200. 

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