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Saturday, May 21, 2022

Stimulus Checks In 2022: SS Beneficiaries To Receive $1,400 Payment

Although three rounds of stimulus checks have already been issued to help the American people cope with inflation and social problems in the face of the Covid-19 pandemic, another check is needed for Social Security beneficiaries.

With the country facing increased risk of economic problems amid the wave of Omicron variant infections spreading across the U.S., stimulus checks for seniors are a primary need.

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Since the start of 2022, Congress has been under pressure from the Senior Citizens League (TSCL) for another one-time Social Security stimulus payment of $1,400 for seniors. This is due to the current uncertainty in the United States following an increase in COVID-19 infections since the emergence of the new Omicron variant. The payment would essentially act as a fourth stimulus check.

The 2022 COLA has increased the highest amount in four decades, pushing many seniors into a higher tax bracket. Thus, the stimulus check is expected to help offset the additional costs.

In 21 years, “COLAs have increased Social Security benefits by 55%,” affecting seniors because overall costs exceed the increase with the COLA, as evidenced by the fact that housing and healthcare costs increased by 118% and 145%, respectively.

Rick Delaney Talks About A New Wave Of Stimulus Checks

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“We’ve heard from thousands of them [seniors] who have exhausted their retirement savings,” said TSCL Chairman, Rick Delaney. “Many have written to us that ‘our government has forgotten about us’. $1,400.00 stimulus checks, for Social Security recipients could be a way to get extra non-taxable income to them.”

Over 95,000 people have signed a petition from TSCL about this $1,400 check for SS beneficiaries, so the pressure is growing.

Prices across the United States are rising at an astronomical level, with the Bureau of Labor Statistics even reporting that since October 2020, consumers are paying on average 6.2% more across the market. Some things like food are up by 5.3%, whereas energy costs are up by more than 30%.

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