The cost of living has risen, putting a hardship on seniors across the United States. The number of COVID-19 cases has increased, exacerbating the problem.
People who had been receiving money from the government for three rounds of the stimulus programme were told they would no longer be eligible.
According to them, the TSCL is pressuring Congress to provide more stimulus cheques. A total of $1,400 in stimulus cash will be distributed to each individual.
They will be able to enhance their financial status with this money. In addition, in 2022, COLAs for Social Security recipients will be increased. It’s been 40 years since COLA has risen so dramatically.
Over the Last Four Decades, the Price of Coca-cola Has Never Been Higher.
The COLA increase has resulted in a 55 percent increase in Social Security income over the last two decades. In recent years, the cost of basics has risen dramatically. Housing and health-care costs have risen by 118 percent and 145 percent, respectively.
According to TSCL chair Rick Delaney, who is quoted in Marca’s study, many people have squandered their retirement funds. Many people have written to express their dissatisfaction with the way our administration has treated them.
Giving Social Security seniors a $1,400 stimulus boost might provide them with additional tax-free money.
The Market Price’s Standard Deviation
The increase in the price of a variety of items has shattered all prior records. According to the Bureau of Labor Statistics, the price of market items has increased by 6.2 percent since October 2020. (BLS).
Food prices have increased by 5.3 percent since then, but the cost of electricity has increased by 300 percent.
The $1.9 trillion Build Back Better bill, which was passed by the House of Representatives, was his brainchild. The Biden administration, as well as many Americans, were disappointed when the bill failed to pass.
Despite the fact that the fourth stimulus payment was not provided, citizens were nevertheless given additional financial benefits, such as an extended child tax credit. The following are some of the key reasons Sen.
Inflation and the depletion of the US economy were two of Joe Manchin’s objections to the law.
Low-income families’ costs will rise as stimulus money runs out, potentially pushing them further into poverty as the disease spreads.