Whether and when Social Security applicants can expect a fourth stimulus check – Community News
Stimulus Check

Whether and when Social Security applicants can expect a fourth stimulus check

AFTER three stimulus measures during the Covid crisis, some groups are pushing for a fourth funding round.

While it’s highly unlikely that Americans will see more stimulus money in their bank accounts before the end of 2021, an impartial group is trying to persuade Congress to do so to help seniors.

An unbiased group pushes for a fourth stimulus check for seniors

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An unbiased group pushes for a fourth stimulus check for seniors

Who is pushing for a fourth stimulus check?

According to the Congressional Research Service, nearly five million Americans age 65 and older were living in poverty in 2019.

With millions on fixed incomes, or living on or below the poverty line, the Senior Citizens League is pushing for a new incentive scheme for seniors.

The group launched a petition and began lobbying Congress for a new stimulus check.

It sent a letter to members in the House of Representatives and Senate asking them to consider a targeted incentive.

It states that the money is needed for seniors to survive and keep food on the table.

The petition has nearly 75,000 signatures.

How Much Money Can Seniors Get?

The Senior Citizens League wants Social Security recipients to receive a $1,400 incentive check to help them cope with high prices.

The group says the special incentive could help with increases in health insurance premiums and higher taxes.

The Social Security Administration (SSA) said more than 69 million people received benefits.

In 2021, people receiving Social Security benefits received a 1.3% increase that was only about $20 a month.

The SSA has approved plans to increase monthly checks again from 2022 to offset the rise in the cost of living.

When Social Security Applicants Can Expect a Check

The Biden administration has recently focused on advancing the infrastructure bill and a larger social spending plan.

It means Social Security applicants are unlikely to get a fourth stimulus check, or at least in the near future.

The reality of any congressional action is also meager, as both the House and Senate have less than two weeks in session before 2021.

What is the cost of living adjustment?

The Social Security Cost of Living Adjustment (COLA) is an increase in Social Security benefits to help inflation.

In January 2022, people receiving social security will see a 5.9% increase.

This is the largest increase in 40 years.

Retirees receive an average of $1,657 per month, up from $1,565 this year.

The Senior Citizens League says the problem with this boost is that it could push some elderly people into a higher income bracket, making them ineligible for food aid next year.

Despite the league’s lobbying efforts, a fourth stimulus is unlikely to materialize as Congress has moved away from considering a new COVID relief check.

We have tips for dealing with inflation.

Plus, how to lower your grocery bills.

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