4th stimulus payment of $ 1,400 which is not ruled out entirely thanks to inflation

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A non-partisan advocacy group, the Seniors Citizens League (TSCL), is calling on Congress to issue a fourth round of stimulus checks, but only for seniors.

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TSCL is a group that advocates for benefits for the elderly, such as increased social security and health insurance benefits. More recently, they called for a 6% increase in the cost of living adjustment of monthly social security benefits, arguing that rising inflation made current fixed income benefits unsustainable.

The latest petition calling for additional stimulus payments reads: “I (and / or my spouse) want Social Security recipients to receive an emergency stimulus check for $ 1,400 to cope with over the course of this unprecedented inflationary year. Social Security benefits are one of the few types of inflation-adjusted retirement income. But soaring inflation has weighed on the household finances of retired and disabled social security beneficiaries. “

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They added that in 2021, benefits had only increased by 1.3%, which only increased the average benefit by about $ 20 per month. About 86% of social security beneficiaries surveyed said their spending had increased by far more than this amount.

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The group plans to use the responses to that petition to help urge Congress to make additional payments. The payments will be seen as a way to supplement money lost during the pandemic due to inflation, as Social Security benefit checks declined in value as inflation continued to climb.

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Last updated: September 10, 2021

This article originally appeared on GOBankingRates.com: 4th Stimulus Payment of $ 1,400 All Due to Inflation

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