Stimulus benefit is coming: $1,800 could hit Florida residents' bank accounts.

Richard Scott

Disclaimer: This article is for informational and educational purposes only.

Stimulus check benefits worth more than $1,800 could hit eligible Florida residents' bank accounts. This stimulus benefit is coming because residents had tackled one of the major inflation spikes in the last 40 years.

In June, American consumer prices rose to 9.1%, higher than economists' prediction of 8.8% growth. It was mentioned in the 13th July report submitted by the government that the price of all things surged in June, such as food, groceries, gas, rent, and medical care.

The Senior Citizens League (TSCL) said that because of a dramatic increase in inflation, seniors would get a 10.5% increase in their Social Security checks in early 2023, which means Florida seniors could expect COLA benefits of an average monthly payment of $1,833.10.

Mary Johnson, Social Security and Medicare policy analyst at the Senior Citizens League, said, "A high COLA will be eagerly anticipated to address an ongoing shortfall in benefits that Social Security beneficiaries are experiencing in 2022 because inflation is higher than their 5.9% COLA."

The Senior Citizens League (TSCL) also said that if inflation increases any further, seniors could get one of the highest COLA benefits since 1981, which is 11.4%.

And if any decrease in inflation is witnessed, then seniors will see an increase in COLA benefits of 9.8%.

If you have any valuable opinions or advice on this article, please put them in the comment section, and if you think more people should read this article, share it on social media with your friends and family.

Be sure to follow me for more updates.

Comments / 321

Published by

A passionate writer and journalist and bring you the latest news.

N/A
37015 followers

More from Richard Scott

Comments / 0