An influential nonpartisan group lobbying on behalf of seniors continues to push Congress for a fourth incentive payment on behalf of seniors.
The Senior Citizens League recently sent a letter to members of Congress urging them to consider a targeted incentive designed to benefit Social Security recipients. The group is requesting a payment of $1,400.
“We’ve heard of thousands of them (seniors) who have used up their retirement savings, who have started eating only one meal a day, have halved their pills because they can’t afford their prescription drugs, just to name a few. of the drastic steps so many have had to take because of what inflation has done to them this year,” said TSCL President Rick Delaney’s letter.
A $1,400 incentive check for Social Security recipients, Delany noted, would be one way to put additional non-taxable income into the hands of seniors.
“We believe a special incentive for Social Security recipients could help cover the higher costs some might face if next year’s COLA thrusts them into a higher tax bracket, driving higher tax rates on their income and surcharges on their Medicare. Part B premiums arise,” he said.
Social Security recipients will receive a 5.9% monthly increase in 2022, the largest increase in nearly 40 years. The average retired worker will see an increase of about $92 per month, but much of that is expected to be eaten away by inflation and increases in Medicare premiums.
So far, three stimulus payments have been approved to help cushion the economic impact of the COVID pandemic. The first payment of $1,200 was sent in March 2020, followed by checks for $600 in December 2020. Payments up to $1,400 were approved in March 2021. Congress has not indicated that it plans to pass a fourth stimulus check.
In addition to the letter, the League has launched an online petition to collect signatures to present to Congress. You can see that here.