According to a report by Marca.com, in the midst of the Covid-19 pandemic, three rounds of stimulus checks have been given to help Americans deal with inflation and social difficulties. For Social security recipients, though, another check is expected.
The United States is facing an additional danger of economic troubles as a result of a wave of Omicron variant illnesses spreading across the country. In light of this, elderly stimulation checks have become a necessary attribute.
The Senior Citizens League (TSCL) has been lobbying Congress for another $1,400 one-time Social Security stimulus payment for seniors since the beginning of 2022. The surge of COVID-19 infections since the discovery of the novel Omicron strain has sparked fear in the United States.
The payment would be akin to a fourth stimulus check.
The cost-of-living adjustment (COLA) for 2022 has risen to its highest level in four decades, putting many seniors in a higher tax bracket. As a result, the stimulus payment is projected to help in offsetting the higher expenditures.
COLAs have increased Social Security benefits by 55 percent since 2001,” affecting seniors since overall expenditures exceed the COLA rise, as indicated by the fact that housing and healthcare prices have climbed by 118 percent and 145 percent, respectively, since 2001.
“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’.
A $1,400.00 stimulus check, for Social Security recipients could be a way to get extra non-taxable income to them.”
Over 95,000 individuals have joined a TSCL petition about the $1,400 check for SS recipients, so the pressure is rising.
Prices are skyrocketing across the United States, with the Bureau of Labor Statistics revealing that since October 2020, consumers have paid an average of 6.2 percent more across the market. Food costs have increased by 5.3 percent, while energy costs have increased by more