The Biden administration has announced recently that it plans to increase the monthly payments of seniors and veterans to $2,000.
$2,000 in Monthly Payments
Americans across the country are waiting for the official announcement of the federal government for the 4th stimulus check. While waiting for this new payment, there are some states that already released their own form of 4th stimulus check through the Economic Impact Payment and other rebates.
In a published article in MARCA, the Biden administration announced that it plans to increase the monthly payments of seniors and veterans to $2,000. Currently, recipients are receiving $1,800 per month but due to the increasing inflation rate, the government is pushing for an increased payment.
Eligibility of the New Monthly Payment
The federal government has set criteria for those who will receive the new monthly payment once the proposal will be approved. The assistance is intended for households with an adjusted gross income (AGI) of up to $75,000 for individuals, up to $150,000 for married couples filing jointly, and up to $112,500 for heads of households.
Furthermore, this also includes low-income households and those with disabilities. Pres. Joe Biden has promised that he will give a comprehensive explanation about the plan to increase the monthly payment to $2,000.
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