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Calls for New Stimulus Checks Mount as Rising Inflation Causes Surge in Prices of Essential Needs

Calls for New Stimulus Checks Mount as Rising Inflation Causes Surge in Prices of Essential Needs

The government has largely indicated that a fourth stimulus check will not be issued and that Americans should not expect another payment, but that does not mean that there aren’t growing calls for some form of assistance, particularly as inflation continues to drive up the cost of everyday necessities.

Requests for another stimulus check or some other form of relief continue to rise from elderly folks to regular Americans, according to CBS. A lot of causes are contributing to the calls for aid.

Most Americans seek for another stimulus payment

Many people are struggling to pay their bills as a result of the new increases in instances of Omicron and other COVID-19 variations, increasing unemployment rates, and the elimination of financial assistance such as the Child Tax Credit.

Furthermore, growing inflation has generated another source of concern, particularly for seniors on a fixed income, with prices rising as much as 6.8%.

While seniors receiving social security will enjoy a 5.9% boost in their Cost of Living Adjustment starting in 2022, the Senior Citizens League, an advocacy organization that has campaigned for another senior-specific check, warns that many may fall behind.

Inflation causes price hikes

The elderly aren’t the only ones who are feeling the pinch of inflation, especially as food costs continue to rise. According to CNN, food costs rose 6.3 percent in December compared to the previous year, with basics such as meats, poultry, fish, and eggs up 12.5 percent, while fruit and vegetable prices rose 5% to a 10-year high.

While fresh help is doubtful, some people may be able to claim a little extra money this tax season owing to the various benefits obtained in 2021. 

CNBC reported that anyone who had a child in 2021, lost income, or gained a new dependent may also claim the $1,400 stimulus payments, in addition to those who never claimed a $1,400 third stimulus check but were eligible.

Read More:

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Stimulus Checks for New Taxpayers: How to be Eligible for the Payment?