![]() ![]() While it does not include a stimulus check for those on Social Security it does include some benefits for seniors. On Friday 19 November, the House of Representatives passed the Build Back Better Act. Joseph Zeballos-Roig JanuIs a new stimulus check coming for Social Security beneficiaries? It was meant to establish a new link between children and the government, like the type that exists between Social Security and seniors. The stimulus law transformed the CTC into a near-universal child allowance with the 1st of 6 checks going out in July. ![]() While over the last twenty-one years, "COLAs have raised Social Security benefits by 55 percent," the costs for housing and healthcare increased 118 and 145 percent, respectively. Researchers with the TSCL have found that costs for seniors have outpaced COLA increase. Many have expressed a feeling of abandonment from the government telling TSCL “ our government has forgotten about us.” The campaign began before the announcement of the 5.9 percent COLA increase, but has continued after reports from thousands of seniors said they were experiencing extreme financial hardship as prices began to trend upward. Social Security Administration announced a historic COLA increase The Bureau of Labor Statistics has reported that since October 2020, consumers are paying on average 6.2 percent more across the market. Those on a fixed income like Social Security are seeing rapid decreases in their purchasing power. ![]() The Omicron crisis comes at the same time as high levels of inflation in the American economy have seen prices soar across the country. Fourth Stimulus Check Update 2022: What is the situation in each state?.Social Security: what is the rule for people over 66 to take into account in 2022?.What is a lump sum Social Security payment?.In a letter, TSCL Chairman Rick Delaney implored leaders in Congress to approve a one-off $1,400 Social Security stimulus payment for seniors. The non-partisan advocacy group Senior Citizens League (TSCL) has called on Congress to send those receiving Social Security additional stimulus money. With individuals forced to self-isolate after a positive test there is concern that millions could have their livelihood threatened. In early January the United States surpassed one million covid-19 cases in a single day for the first time, and then went on to beat that record in each of the three following days. The threat of the more contagious covid-19 variant, Omicron, has spooked the markets and created new wave of illness. The third round of stimulus checks saw more than 169 million payments sent out to eligible Americans, and some are pushing for a fourth as inflation continues to bite. ![]()
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