Distribution of 4th Stimulus Payment Worth $1,400 Still Possible to Happen
An advocacy organization called The Seniors Citizens League (TSCL) has asked Congress for the fourth round of stimulus checks for seniors only.
In addition to increasing Social Security and Medicare benefits, TSCL is also known to advocate for senior citizen benefits. Recent demands have been raised by the group informing the congress to Include an increase of 6% in the Cost Of Living Adjustment for Social Security benefits, arguing that existing fixed income benefits cannot be sustained due to the rise in inflation.
Among the most recent petitions seeking additional stimulus payments are the following:
“I (and/or my spouse) want Social Security recipients to receive a $1,400 emergency stimulus check to cope during this unprecedented inflationary year. Social Security benefits are one of the few types of income in retirement adjusted for inflation. But soaring inflation has taken a toll on household finances of retired and disabled Social Security recipients.”
According to a survey, benefits are expected to rise by just 1.3% in 2021, which raises average benefits by only about $20 per month. Nearly 86 percent of Social Security recipients in the survey reported that their expenses increased by more than that.
Congress is to be urged to allow additional payments based on the responses to this petition. Social Security benefit checks decreased in value as the rate of inflation kept surging, so these payments will be seen as a way to compensate for the loss brought by the pandemic.