Rather, it's a long-term initiative to rescue, recover and rebuild the country's financial standing. That proposal doesn't include a fourth stimulus check or anything like the direct payments that millions of people received over the course of the pandemic. The most noteworthy economic effort in current legislation is President Biden's $2.25 trillion infrastructure investment proposal, the American Jobs Plan. "We'll see what members of Congress propose," Psaki added, "but those are not free." But that doesn't mean a fourth stimulus check is happening. In a press conference in June, White House Press Secretary Jen Psaki said, "The president is certainly open to a range of ideas," when asked about the lawmakers pushing President Biden for more stimulus checks. The White House has said little about a fourth stimulus check. In May, seven Democrats on the House Ways and Means Committee sent a letter to President Biden requesting that the administration add a fourth and even a fifth stimulus check to the American Families Plan announced earlier this spring. But it has not moved forward in the House of Representatives and has little chance of passing. Ilhan Omar (D-Minnesota), introduced a bill that would send $1,200 to each American making less than $75,000 per year, forever. This article originally appeared on GOBankingRates.The White House has passed back the buck, stating that the president would consider whatever Congress comes up with.Īt the end of July, Rep. Should You Refinance Now With the Low Mortgage Rates? How To Use a Credit Card Like a Pro This Holiday Season More From GOBankingRates 5 Things Most Americans Don’t Know About Social Securityġ0 Reasons You Should Claim Social Security Early A fourth stimulus check could help struggling seniors recover from a year of surging prices and supply chain blockages that are still hurting the prospect of recovery for basic grocery items. Social Security recipients are expected to receive a 6% COLA increase in 2022 - one of the largest on record - but rising inflation and Medicare costs are thought to eat away at most of it. See: Surging Meat Prices Could Cost You Hundreds This Year - Can You Afford It?įind: Could the US Benefit From Another Stimulus Check? Roughly 25% of low-income seniors reported food insecurity, according to SNAP research. Although overall inflation has come in around 5%, prices for chicken have increased 7.2%, pork prices are up 9% and prices for ground beef are nearly up a whopping 13% from last year.Ī $1,400 check could help senior citizens afford groceries on an already tight fixed income. One of the sectors that has experienced the greatest increase in prices is the meat industry. Government Shutdown 2021: Will SNAP Benefits Be Impacted? But about 86% of Social Security recipients surveyed say their expenses increased by much more than that amount.” The petition adds, “In 2021 Social Security benefits increased by just 1.3% raising the average benefit by only about $20 a month. Social Security benefits are one of the few types of income in retirement adjusted for inflation.”Īmong the arguments in the petition is that the COLA increases are not suitable enough for seniors living on a fixed income with the 5% inflation surge experienced over the past 13 months. The petition reads: “I (and/or my spouse) want Social Security recipients to receive a $1,400.00 emergency stimulus check to cope during this unprecedented inflationary year. Social Security: Grocery Store Shortages Comparable to 2020 - Are You Prepared for Lack of Supply During the Holidays? Stimulus Update: Petition for a Fourth Stimulus, State Economic Boosts, Golden State Checks & Child Tax Credits The Senior Citizens League (TSCL), one of the largest nonpartisan senior citizens advocacy groups, currently has a petition to garner support and attention for an emergency $1,400 stimulus check to cope with unprecedented inflation.
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