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Will Social Security Beneficiaries Receive a Fourth Stimulus Check? | Complete Info!

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In the third wave, more than 169 million stimulus checks were distributed to eligible Americans, and some are clamoring for a fourth as inflation continues to bite. Markets have been rattled by the threat of Omicron, a more virulent covid-19 variant, which has sparked a new wave of infection.

In early January, the United States broke the record for most covid-19 occurrences in a single day for the first time and then broke it again the next three days. Millions of people’s livelihoods could be jeopardized if they are compelled to self-isolate after a positive test.

A nonpartisan advocacy group, the Senior Citizens League (TSCL), has petitioned Congress to provide more stimulus funds to Social Security recipients. TSCL Chairman Rick Delaney asked for a one-time $1,400 Social Security stimulus payment for seniors in a letter to Congress.

The Omicron crisis happens at a time when the American economy is undergoing considerable inflation, resulting in price increases across the country. The purchasing power of those on a fixed income, such as Social Security, is fast eroding. Since October 2020, customers have been paying 6.2 percent higher on average across the market, according to the Bureau of Labor Statistics. The cost of food has risen by 5.3 percent.

The Social Security Administration Announced a Historic COLA Increase

Social Security Beneficiaries
Will Social Security Beneficiaries Receive a Fourth Stimulus Check?

The campaign began before the 5.9% COLA increase was announced, but it has persisted as some seniors have reported significant financial hardships as prices have risen. “Our government has forgotten about us,” several citizens have told TSCL, expressing their unhappiness with the administration.

According to TSCL experts, senior costs have outpaced COLA increases. While “COLAs” have increased Social Security income by 55% in the last twenty-one years, housing and healthcare costs have climbed by 118 and 145 percent, respectively.

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The House of Representatives passed the Build Back Better Act on November 19th. While there is no stimulus payment for Social Security holders, it does offer some senior benefits. Measures such as expanding Medicare to include hearing treatments and allowing the government to negotiate a limited number of prescription prices with pharmaceutical corporations each year are among them.

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