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CLEVELAND (WJW) — The Senior Citizens League is working to get more stimulus money to older Americans, but they don’t expect to see it by the end of the year.
Two weeks ago, the advocacy group reportedly sent out letters to congressional leaders asking for them to consider a $1,400 Social Security stimulus payment proposal for some of America’s most vulnerable citizens.
“We’ve heard from thousands of them [seniors] who have exhausted their retirement savings, who have started eating just one meal a day, started cutting their pills in half because they can’t afford their prescription drugs, to list just a few of the drastic steps so many have had to take because of what inflation has done to them this year,” the letter reportedly said in part.
Now, the advocacy group says it’s unlikely for Congress to act on their proposal this year. Still, they hope enough support from senior citizens will make it a major issue with congressional support next year.
The Senior Citizens League warns that the cost of goods and services is going up for people with fixed incomes ahead of next year’s federal cost-of-living bump.
Government economic experts estimated recent increases in inflation mean the cost-of-living adjustment (COLA) for 2022 will approach 6%, jumping from the 1.3% COLA awarded in 2021.
Some of that may go for higher Medicare costs. The Medicare “Part B” premium for outpatient coverage was projected to rise by $10 a month in 2022, to $158.50 under the report’s intermediate assumptions. The official number won’t be released until later this year.
The advocacy group said older Americans are already under pressure from other rising, unavoidable costs such as food, housing and transportation.
The Associated Press contributed to this report.