Stimulus update: $1,800 could hit Texas residents' bank accounts.

Richard Scott

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

Stimulus update is coming that more than $1,800 could hit eligible Texas state residents' bank accounts. This payment provides some relief to residents facing one of the major inflation surges seen in the last 40 years.

The U.S. Bureau of Labor Statistics published a report on July 13th which states that Texas consumer prices surged 10.2% in June.

According to the U.S. Bureau of Labor Statistics, Texas residents had to pay more for their day-to-day things, which put them under a financial burden.

It would be very beneficial if the government provides some financial assistance to the residents during this hard time. But it would be great if assistance would be worth more than $1,800.

According to experts, residents could see an average increase of 10.5% in monthly COLA benefits, which means seniors could get up to $1,831.

As per the U.S. Census Bureau and Population Estimates Program (PEP), nearly a 3.8 million (13.1%) of the Texas population is 65 or above.

So, millions of Texas states residents could claim benefits worth $1,831.

The Senior Citizens League (TSCL) said that if inflation continues to rise, then residents could see the highest boost in COLA benefits since 1981, as high as 11.4%.

Experts predict that if inflation starts to decrease in this case, residents will still witness a big boost in COLA benefits, around 9.8%.

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