In the next following days, tens of thousands of Americans are scheduled to receive up to $1,200 stimulus checks. Apart from this, Americans should expect as well as millions of social security checks worth up to $1,657 are scheduled to be sent out next week.
Up to $1,200 stimulus checks
According to The U.S. Sun, while a federal stimulus package is unlikely at this time, a number of states and municipalities have launched their own programs.
California is one of these states, having delivered 12.3 million stimulus payments totaling around $8.8 billion in the last fiscal year alone. Cheques will thereafter be distributed in two payments between the middle of March and the middle of April, as scheduled by the state.
A total of two programs, Golden State Stimulus I and Golden State Stimulus II, were responsible for the distribution of the first cheques. The maximum value of these stimulus checks is $1,200, and the maximum value of the other is $1,100.
A one-time payment of up to $4,000 has been sent to New Jersey residents, but the deadline to receive the money has gone.
Up to $1,657 social security checks
In another report of The U.S. Sun, The increase in the cost-of-living adjustment (COLA) by 5.9 percent will provide a financial boost to retirees across the United States. The detailed timetable for the release of the next batch of cheques has been released.
Pensioners who were born between the first and tenth of the month will receive their next checks on March 9 if they have not already received them. Those who were born between the 11th and the 20th of the month will receive their compensation on the 16th of the month. Inspections will be performed on those who were born between the 20th and the 31st of the month on February 23.
Despite a cost of living adjustment (COLA) of 5.9 percent for 2022, the highest in decades, seniors are allegedly losing purchasing power as a result of inflation.