Fourth stimulus check news summary: 30 October 2021
Stimulus checks, Social Security, Medicare... live updates, Saturday 30 October 2021
- Millions begin to see benefit increases in SNAP benefits.
- Will there be a fourth stimulus check for Social Security recipients?
- Historic increase coming in November for those on receiving CalFresh, or SNAP benefits in California.
- A deep dive into unemployment benefits in the United States
- 2022 Social Security COLA increase to take effect 30 December 2021.
- Increased calls for fourth stimulus check as inflation sees prices rise
Useful information & Links
Child Tax Credit
- Next monthly Child Tax Credit payment to go out on 15 November
- Fourth stimulus check: the situation in every US state
- Could a fourth stimulus check happen in November?
- Petition calling for $2,000 recurring checks nears 3m signatures
- Open enrollment under way through 7 December
- How old do you have to be to get on Medicare?
- Medigap vs Medicare Advantage plan: the lowdown
- Social Security payment schedule for 2021
- What appears on a Social Security Statement and how to get yours
- What to know about Social Security benefits in 2022
The United States Department of Agriculture has implemented the first permanent increase the value of SNAP benefits since 1975. In California this increase could boost the benefit amount of millions of households by twenty-five percent. Read our full coverage for more on the impacts.
What benefits would the extension of the Child Tax Credit have?
The Center on Budget and Policy Priorities took a look at this question. Researchers found that extending the current structure of the credit could low neo-natal mortality, increase earnings for child beneficiaries in the future, and much more. Read the report.
In February the California state legislature approved the sending of direct payments to those making under $35,000.
In late spring, Governor Gavin Newsom announced that the state had seen a historic budget surplus, despite the impacts of the covid-19 pandemic. In light of this news, the Governor and many Democrats advocated to expand eligibility of the stimulus check program to all those making under $75,000 a year.
Read more on eligibility in our full coverage.
Compensation increases in 2021
The Bureau of Labor Statistics has reported that since the beginning of 2021 through September, compensation has increase 1.3 percent. Since September 2020, that figure increases to 3.7 percent, showing just how quickkly the pandemic has forced employers to raise pay to attract and keep workers.
Key climate provision stripped from reconciliation bill
The Hill reports that after Exxon Mobile CEO Darren Woods has admitted to having a call with lawmakers that may have led to the removal of stronger climate provisions in the Democrats reconcilation bill.
The call comes after Woods tesitfied in front of Congress where Congresswomen Ocasio-Cortez questioned the CEO on how his compensation is determined. During her comments, the Congresswomen also said: "Some of us actually have to live the future that you all are setting on fire for us."
Measure to lower the price of perscription drug for those on Medicare could be stripped
Last week President Biden hosted a series of negotiations with conservative Democrats in an attempt to garner their support for the reconciliation bill. The total price tag has reportedly been brought down from $3.5 trillion to $1.5 to $1.75 billion by removing many popular measures. One among the list of items that could be removed is a measure that would give the government to negotiate Medicare drug prices. Many seniors pay for a Medicare Part D plan to keep the cost of prices down.
However, some seniors report that with their Social Security benefits are not high enough for them to allow this additional expense. The United States pays some of the highest drug prices in the world, an issue that can pose many challenges for seniors who live on a fixed income if they face a medical emergency.
When will the next payment for the Child Tax Credit be made?
Millions of families will receive their second last payment on 15 November. The last payment will be made on 15 December.
Families will claim the remaining value of the credit when they file their taxes next year.
More than a million residents in California enrolled in CalFresh, the food stamp program in the state during the pandemic. Earlier this year the state made permanent historic increases to the benefit amounts. What are the income limits? Read here.
Infrastrucre bill fails to move forward in the House
Speaker Nancy Pelosi had hoped to bring the infrastructure bill, which has been approved by the Senate, to a vote in the House of Representatives on 28 October. The bill was not brought to a vote because Progressive Democrats have said they will not vote on the bill until the reconciliation bill is brought to a vote.
The annual COLA applies to all beneficiaries equally. In 2020, Yahoo News estimated the average monthly benefit in Texas to be $1,495, and when applying the 2021 and 2022, the average increases to $1,602. From this year to next, the average benefit could increase by almost $90. But how many people will be on the receiving end of the increase?
Watch out for Child Tax Credit scams
The IRS has warned beneficiaries of the expanded Child Tax Credit to make sure they are not tricked into giving out personal information to theives. Throughout the pandemic the various financial relief programmes have been a target for scammers trying to intercept payments and defraud the public.
Lawmaker looks to boost Social Security
Rep Matt Cartright of Pennsylvania is pushing for an expanded Social Security programme to provide additional support for retirees and diabled Americans.
Hopes of a fourth stimulus check for every eligible American, like those issued throughout the covid-19 pandemic, appear unfounded as President Biden focuses instead on the American Rescue Plan and an enhanced Child Tax Credit. That said, there is a possibility that a more targeted payment could still be made to a certain group of American citizens, and they're pushing for that to happen.
Rep. Jeffries pushes for Child Tax Credit extension
After months of negotiations it appears that President Biden's ambitious Build Back Better legislative proposals are inching closer to realisation. The Democrats have a very disparate caucus and have struggled, at times, to keep moderate senators on board with the expansive stimulus proposals. However Rep. Hakeem Jeffries believes they are on the brink of securing a vital extension for the Child Tax Credit expansion, as well as a number of other programmes.
While Congress continues to debate the fate of President Joe Biden's Build Back Better legislative agenda, there is little movement on the prospective fourth stimulus check. Millions of Americans are still feeling the effects of the pandemic financially, but the federal government appears unwilling to countenance another round of direct payments.
However states across the country are doing their own financial relief programmes, offering direct payments to residents struggling to make ends meet.
In mid-October the Social Security Administration announced a historic cost-of-living adjustment (COLA) to benefits for 2022. The 5.9 percent COLA increase is the highest in forty years due to higher than normal inflation brought on by multiple factors resulting from the covid-19 pandemic.
VP Harris pushes Child Tax Credit extension
The White House has been on a charm offensive in recent weeks, extolling the virtues of the Child Tax Credit expansion. While Congress struggles to find a solution to the reconciliation bill log-jam, Vice President Kamala Harris has been pushing lawmakers to include an extension of the reformed Child Tax Credit in the package.
The federal-state unemployment insurance program was set up in 1935 to provide financial support to workers who have been laid off while they look for work.
Social Security benefits will be getting a 5.9 percent boost in 2022.
The Social Security Administration announced the highest increase to payment in forty years. The annual increase to benefits has been in effect for over four decades to keep the purchasing power of monthly payments in line with inflation.
However, recipients will have to wait a couple more months before their monthly checks catch up with the past year’s inflation. So how many payments will there be until the new 2022 cost-of-living adjustment (COLA) takes effect?
Millions in California have received a $600 Golden State stimulus and now many are wondering whether Governor Gavin Newsom will push for another check.
A Change.org petition urging Congress to send out recurring stimulus checks is approaching its goal of three million signatures.
Created by Colorado restaurant owner Stephanie Bonin, the petition calls for Americans to be given monthly checks of up to $2,000.
"Supplying Americans with monthly support until they can get back on their feet can save our communities from financial ruin," Bonin says.
President Biden announced a framework for his Build Back Better plan, agreed to after months of negotiations - and families could see extra money next year.
US stimulus checks, benefits and bills: welcome
Good morning and welcome to our daily live blog for Saturday 30 October, as we bring you the latest updates on President Biden's attempts to get his Build Back Better proposals through Congress, plus news on a potential fourth stimulus check, the expanded Child Tax Credit, Social Security benefits, and more.