A FOURTH stimulus check is unlikely to be sent out to Social Security recipients before the end of the year.
This year, high inflation has caused millions of Americans to suffer, but the increased cost-of-living-adjustment for 2023 will help provide some relief for seniors.
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Social Security and Supplemental Security Income (SSI) beneficiaries have been holding out hope that Congress will consider a fourth stimulus check.
There is a petition online that aims to convince lawmakers to send senior citizens a fourth, $1,400 stimulus check.
Also, the Senior Citizens League, a non-partisan advocacy group, has been calling for a one-time $1,400 stimulus check for Social Security claimants, who are among the hardest hit by higher prices.
The group sent a letter to Congress last year, stating the cost-of-living adjustment, combined with inflation, will hit hard for many older Americans who are on a fixed income.
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The proposal came after it was heard from many seniors who shared their hardships in the aftermath of the pandemic.
Shannon Benton with the Senior Citizens League previously told The Sun: "We have received hundreds of emails from people concerned about making ends meet.
"The high cost of living adjustment, for many, just exacerbated their financial woes by bumping their income above program limits to qualify for medicare savings programs and extra help."
And with inflation remaining high, the need for an injection of financial stimulus remains essential for millions of Americans.
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The Senior Citizens League isn't the only one that is trying to get Congress's attention on the issue.
There's seperate petition on Change.org, which has gotten more than three million signatures.
The innitative, which was started by a Denver restaurant owner, aims to reach the support of 4.5million.
It's asking Congress to provide monthly stimulus checks of $2,000 for adults and $1,000 for children for the "duration of the crisis".
Will lawmakers act?
Dozens of lawmakers have pushed for recurring stimulus payments, but any hope was sidelined when lawmakers focused on the Build Back Better agenda.
While a scaled-down version of it was signed into law by President Joe Biden in August, it did not include stimulus check.
Currently, no talks about stimulus money are on the table, so Social Security claimants should not expect to get a $1,400 check.
COLA change in 2023
In 2023, the Social Security Administration said the new COLA increase of 8.7 percent will kick in.
So depending onhow much you typically receive each month in benefits, you'll see a considerable change.
For example, retirees who have been receiving $1,681 per month, which is the Social Security Administration's estimated average monthly Social Security benefits, will now get $140 more.
With the COLA increase, all retired workers who receive that average in benefits will now get $1,827 starting in January.
For a retired couple who are both receiving benefits, the average monthly check will increase from $2,734 to $2,972 in the new year.
Other help for Social Security claimants
The Social Security Administration looks at the cost of living and makes any necessary increases to Social Security benefits.
This practice has been going on since the 1950s to offset inflation for people living on a fixed income.
The COLA increase impacts at least 70million Americans.
Despite the increases each year, high inflation has lowered Social Security claimant's buying power by about 40 percent since 2000.
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In other Social Security news, 33 states have bumped up Supplemental Security Income (SSI) so recipients will get payments of $841.
Plus, we explain how to get the most out of Social Security when you retire, including ways to boost your payments.
