Last week TSCL Chairman Rick Delaney sent letters to the leaders of Congress proposing a one-time $1,400 Social Security stimulus payment for seniors.
The letter said in part: 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.
Many have written to us that “our government has forgotten about us.”
A $1,400.00 stimulus check, for Social Security recipients, could be a way to get extra non-taxable income to them.
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.
While the price of prescription drugs has been a major subject of discussion in Congress this year, we are concerned by the lack of discussion about the issues being faced by seniors when it comes to Social Security.
Since we announced our campaign, we have received a large amount of inquiries and coverage by various media.
It is unlikely Congress will take action on our proposal this year but if we can build enough support from seniors for it, we are hopeful it can become a major issue next year and that Congressional support for it will grow.