If you are a senior you might be in luck?
While there will be a cost-of-living adjustment for those collecting Social Security in 2022, The Senior Citizens League, a nonpartisan advocacy group, says it simply won’t be enough and are demanding for seniors who collect Social Security checks to be given new $1,400 stimulus checks.
According to CNBC, the non-profit group wrote to Congress and said, “We believe that a special stimulus for Social Security recipients could help defray the higher costs some would face if next year’s COLA bumps them into a higher tax bracket, causing higher tax rates on their income and surcharges to their Medicare Part B premiums.”
The COLA (cost-of-living adjustment) for 2022 appears to be somewhere around at least 6% which is likely due to higher consumer prices.
It is currently unknown if the House of Representatives and Senate will approve The Senior Citizens League’s request to give out a fourth stimulus check to seniors alone but it appears that they have got the ball rolling.
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