Congress has received pressure from the Senior Citizens League (TSCL) in the first few weeks of 2022 as they push for another one-off $1,400 Social Security stimulus payment for seniors. This is because of the uncertainty in the United States following a rise in COVID-19 infections since the emergence of the new, albeit milder, Omicron variant. This payment would essentially act as a fourth stimulus check.
The 2022 cost-of-living adjustment (COLA) is increasing by the highest amount in four decades, pushing many seniors into a higher tax bracket, so this stimulus check will theoretically help offset extra costs.
Over the last 21 years, “COLAs have raised Social Security benefits by 55 percent,” affecting seniors due to general costs outpacing the increase with the COLA, as shown by the fact that costs for housing and healthcare increased 118% and 145%, respectively.
“We’ve heard from thousands of them [seniors] who have exhausted their retirement savings,” said TSCL Chairman, Rick Delaney. “Many have written to us that ‘our government has forgotten about us’. A $1,400.00 stimulus check, for Social Security recipients could be a way to get extra non-taxable income to them.”
Over 95,000 people have signed a petition from TSCL about this $1,400 check for SS beneficiaries, so pressure is growing.
Prices across the United States are rising at an astronomical level, with the Bureau of Labor Statistics even reporting that since October 2020, consumers are paying on average 6.2% more across the market. Some things like food are up by 5.3%, whereas energy costs are up by more than 30%.
Stimulus check for Social Security recipients
The House of Representatives passed the Build Back Better Act back on Friday, November 19, and this includes some benefits for seniors, although there is no sign of a stimulus check.
Medicare will be expanded to include hearing services, while government have more power when it comes to negotiating drug prices with pharmaceutical companies, but this bill is not going to be passed in the Senate ahead of 2022.
This is because Democrat Sen. Joe Manchin has declared that he will not be supporting the Build Back Better bill, which means that the millions of people that it supports are now left in the lurch. While there is progress expected in 2022, the $1.9 trillion bill will not be given the green light in 2021.