Senior Citizens League (TSCL), a non-partisan advocacy group, started a press campaign back in October to pressure Congress to help those receiving Social Security with supplemental stimulus money. Since then, inflation has risen more than two percent, making last year’s historic cost of living a contentious point, and no stimulus money is on the horizon.
The letter, which was sent to Congress, calls for a one-time payment of $ 1,400 Social Security stimulus for seniors who GOBanking prices previously reported. It sounds:
“We have heard from thousands of them [seniors] who have exhausted their retirement savings, who have started eating only one meal a day, have started cutting their pills in two because they can not afford their prescription drugs, just to name a few of the drastic steps so many have have had to take because of what inflation has done to them this year. “
Is a check in progress? Mary Johnson, TSCL’s Social Security and Medicare Policy Analyst, told KGW.com’s VERIFY team that it’s early in the legislative year – and is also an election year – so the league is hopeful that “a provision will be included in the relevant budget legislation later in the autumn. “
But even if a stimulus check were to happen, it would not be enough for seniors. As GOBanking prices previously reported, to account for inflation, social security payments had to be $ 540 higher per month to match how much they were worth 22 years ago.
Johnson shared earlier at the time that seniors are away from how little purchasing power their money now has, explaining that “for every $ 100 of goods or services that retirees bought in 2000, today they would only be able to buy $ 60 worth. “
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This article was originally published on GOBankingRates.com: Social Security Stimulus: Why Recipients Shouldn’t Hold Out for $ 1,400 check anytime soon