Stimulus Check: Will Petition For Fourth $1,400 Check Be Passed For 2022?

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Americans are still debating whether or not to try to persuade Congress to pass a fourth stimulus check to help seniors.

With inflation driving up prices for seniors who are already struggling to meet basic needs, some argue that this check could help offset some of the costs.

Inflation is at its highest level in more than 30 years. The increase in the Consumer Price Index (CPI) was the highest in nearly 40 years.

Despite a 5.9% increase in social security benefits for seniors, inflation and rising Medicare costs cancel it out.

Sadly, the increase will push some beneficiaries into a higher tax bracket. The extra $92 per month may not help these people much.

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The 1.3 percent increase at the end of 2020 did not cover the increased cost of living in 2021, according to 86 percent of those receiving benefits.

Many people have been forced to dip into their retirement accounts, and in some cases, completely deplete them.

Others claim that they only eat one meal per day to make ends meet. To make their pills last longer, some people cut them in half. They are unable to purchase food or prescription medications due to financial constraints.

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The petition was started earlier this year in the hopes of assisting senior citizens. According to reports, the $1,400 would cover the cost of Medicare Part B as well as the higher taxes associated with moving into a higher tax bracket.

If passed, the bill could cost $90 billion to provide the $1,400 check to 64 million people who receive social security benefits.

If managed to pass, the check would not be issued until 2021, as legislators focus on passing President Joe Biden’s action plan before the end of the year.

Stay tuned to bigblueunbaised for more updates.

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