New stimulus check payments of around $4555 are being announced, which would form a part of the economic assistance program that has been offered by the US government. These direct payments will definitely help a large section of the American population after the economy was severely hit by Covid-19.
These families have been hit hard by unemployment, high commodity costs, and inflation. Nonetheless, the government has decided to keep supporting the vulnerable population from an economic standpoint. The process has been initiated through reimbursed taxes, or by covering the basic expenses of the household. The news about the check was announced recently- but one needs to understand that not everyone has been deemed eligible for this payment.
Stimulus Check Payment Of $4555 Has Been Initiated
The stimulus check payments have already started being deposited from the 8th of February, according to The Sun. Close to 70 million Americans have been deemed eligible to receive the Social Security payment, so they will get a sum of $1800 on average every month. It should also be noted that the economic benefits of these payments have been in accordance with the birthdays of the eligible persons. Therefore, the population with birth dates between the 1st and the 10th will be receiving their payment on the second Wednesday of consecutive month.
The maximum stimulus check amount that Americans could be receiving is $4555, as the maximum benefits of Social Security have been increased by $140. And this is all due to that increase in the Cost of Living Adjustment.
