While advocates for those collecting Social Security have pushed for a fourth stimulus check, it isn’t happening.
Millions of Americans benefitted from the first three rounds of federal stimulus checks.
The last round was worth $1,400 and given to help Americans get through the pandemic.
Now, people want to know if they can get another stimulus check.
Seniors on Social Security have a fixed income during inflation, but shouldn’t expect a fourth stimulus check
The IRS spoke with Verify, and stated that there are no stimulus payments that have been verified by law for the near future.
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In order for a stimulus payment to go out, Congress first needs to approve of it.
President Joe Biden then needs to sign and authorize any checks after that.
Despite it not happening now, or soon, people are still fighting to get seniors additional financial assistance.
Many Social Security recipients have struggled to make ends meet.
With inflation soaring higher than ever, many are unable to keep up with the rising costs of food, gas, and medications on their fixed incomes.
The COLA increase for 2022 was just 5.9%, one of the highest in recent history.
Unfortunately, it’s still less than inflation rates, which have reached over 8% in recent months.
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