$800 plus $1,400 plus $$3,000 to $3,600 for the low income. I have all the details and what these numbers represent on this topic.
All right. So I’ve had a number of you reaching out recently saying, hey, we’re low income here, we’re fixed income. What is out there for us right here, right now?
So in this topic, I do want to lay out a few different things that Congress is either actively working on right now Congress has discussed and or something that has a very high probability of actually happening. So these are the things that are out there right now for the low income. And I want to lay it out for you in this video. As we know, Congress is still currently working on the stimulus package, the newly revised skinny version of the bill. And, of course, anything could be coming at any given point, especially now that we know that Americans are struggling.
They know that Americans are struggling also. We have the midterm elections and so many other things coming up right now. There are a lot of things that are pointing toward additional relief as far as coming in the next stimulus package, as far as what they’ve also said to us in some of their announcements and their reports. So, of course, as we get more details on that, I’ll continue to watch it for you. But this is what I have for you as of right now.
And I want to lay this out for you because some of you have been asking. So let’s get into these right now. All right. So the $800 what does this actually represent? Now?
This is that one prepaid debit card that was announced a few months ago out of senior Senate Democrats where they want to send out an $800 prepaid debit card to about 63 million beneficiaries, including those people receiving Social Security, retirement, disability, SSDI and survivors benefits, as well as Medicare beneficiaries. Now, this is the card that they announced. It was like in the fall of last year. I know it’s been a long time, but the realization out of all this is they’ve been talking about all this for a very long time. And honestly, not a whole lot has been done other than just a lot of back and forth talk.
So even though they talked about it many, many months ago, it doesn’t really matter because they’ve been talking about the stimulus package for a very long time as well. So it’s all kind of on the same playing field right here, right now. But this $800 prepaid card is supposed to be used for dental procedures. However, they haven’t really given us a whole lot of details on it. And basically, they just said it would be a prepaid debit card.
So who says you can’t go out and spend it on groceries or gas in your car or other things like that? Again, I’m not here saying that you can. I’m just simply saying it’s supposed to be coming as a prepaid debit card. So that is one of the provisions that are out there right now. And it could be coming in the skinnier version of the build-back, better agenda, otherwise known as the stimulus package.
And remember, this is one of those things that was very important to Bernie Sanders since they wanted to add Medicare reform into the stimulus package. And unfortunately, they were dropping a few of those provisions within it. Hearing, dental and vision dental was dropped. So this is what they were doing to replace that is by giving everybody that one-time $800 prepaid debit card. So that is still out there circling around.
And as we get more information, of course, I’ll keep you posted. Next on my list is $1,400. Now, what does this actually represent? This is in reference to the petition and the movement out there talking about right now how fixed-income beneficiaries, Social Security, SSDI survivors, retirement SSI beneficiaries need a one-time fourth stimulus check in the amount of $1,400 to help actually alleviate some of the pressures due to all of this inflation right now. So the Senior Citizens League is the major advocacy group that is behind this right now.
They’re the ones that are pushing for this. And of course, we are too. But realistically, we’re more pushing for a $2000 check. And as I talked about just the other day, more importantly, what would be even better would be ongoing monthly payments anywhere between $250 and $500. But again, that is what we’ve been discussing here on the channel.
And based on all of you leaving your comments down below in the comments section, that is what would really be needed right now. However, we also do have the tailwinds and the extra support from the Senior Citizens League as they’re the ones who are also lobbying Congress for this $1,400.01 time payment for all of these fixed-income beneficiaries that I just mentioned. So that is where this $1,400 is coming from now, to be totally clear, so that there is no miscommunication, no misunderstanding at all it has not been approved yet. But at the same time, just on one hand, I can see it hasn’t been approved yet. On the other hand, I can also say, well, they’re currently working on the stimulus package.
We do know that Congress is finally recognizing that Americans are struggling right now and that we need additional relief. They also recognize that this inflation situation has gotten way out of hand and that they need to do something right away. Over the last few months here, we’ve been seeing the inflation numbers continue to move up month over month, and Congress has pretty much just been sitting around being like, oh, yeah, inflation is bad and we’ll get a handle on it. Well, now, as of this most recent report, they’re really coming out saying, okay, enough is enough already. We’ve just got to finally get something done here.
So they’re finally realizing that Americans are struggling and something needs to be done about this massive inflation. And one thing that could be done to help alleviate some of those pressures right now would be get cash into the hands of the people who need it the most right now, the low income, the fixed income Social Security, SSDI, retirement survivors, SSI and VA beneficiaries. So we can only hope that we our efforts, along with what the Senior Citizens League is doing, what their petition and how they’re lobbying Congress, hopefully we can come together and get a focus stimulus check on the lowest income and fixed income Americans. So that is the $1,400. Now let’s talk about the $$3,000 to $3,600.
Now, again, this is something else that is out there being discussed right now by Congress. They’re talking about a number of different provisions, how they may actually want to reform this, how they may want to change some of the eligibility requirements, how they may want to get this money out, and how they may actually want to offer retroactive pay or back pay for the millions and millions of people that are eligible to receive the $3,000 to $3,600. And this is in the form of those monthly checks being sent out as child tax credit payments. Now hold up for just a second because you might think but wait, I’m a senior, I’m elderly. I’m receiving Social Security disability benefits.
I don’t have kids that are under the age 17. What about us? Well, that also talks about the recent reports that we’ve also mentioned here over the last couple of weeks where there has been some discussion about expanding the adult tax credit. And potentially there may be an option to send it out as an ongoing monthly payment, just like the child tax credit payments. But just like so many other things out there right now, there’s so much in the air that’s being discussed right now, but at the same time, nothing is really approved quite yet.
So, again, I know, trust me, I totally get it. I think all of us are sitting here saying, okay, they’ve got all these provisions out there right now. What are they actually doing? Well, they’re trying to figure out what to do. I mean, seriously, that’s about what it comes down to.
They’re trying to figure out what they can get support for, what they can get all Democrats on board with, and or what they can actually pass with a bipartisan support. So that’s kind of the conundrum that we’re dealing with right now is that they’re trying to figure out what they can actually get support for to actually get these bills through. However, again, the adult tax credit. Again, there’s been talk about it, whether they actually offer this as some kind of monthly advanced payment. Again, that sure would be nice, especially with those discussions that we’ve had in previous videos here over the last week or so.
However, when it comes to the child tax credit payments, these are something that they are trying to reinstate as quickly as possible. Again, $$3,000 to $3,600 per child per year, not per month, but per year, depending on the age of the actual child. Now, remember, they’re going to be sending these out as advanced payments, just like they did in the second half of 2021. Now, here’s the problem is that we don’t know when these will actually be approved, if they will be reinstated. But at that time, there may actually be retroactive or back pay to send those out to bring them back up to current as of January of this year.
So depending on when they actually approve this, it could actually have a couple of months worth of retroactive pay. But again, we’ll have to watch that and see what they actually finally decide. But they did allude to about a month ago or so. They did mention that in the event that these checks are passed relatively soon, they could send them out in double or triple payments, depending on when they actually are approved. So, again, we’ll have to see what they actually have right now.
But anyway, these are some of the provisions that are out there right now. These are some of the things that are either being discussed by Congress actively. These are some of the things that are actually being talked about and have a high probability of actually happening or something that Congress has explored the ideas of and actually entertain these ideas at some point here over the last couple of months. So at the same time, I just want you to know, please don’t get too discouraged by all this. I know it’s a very slow process.
We’ve been through this before. We’ve been down this road many times. Think back to the summer of 2020. Remember that? Yeah.
What a mess. Just remember this for just a second. Let me digress for just a moment here. Remember the first stimulus check that we received, the $1200 back in March and April of 2020? Well, we were sitting there wondering when is stimulus check number two going to arrive?
Remember that for months and months and months. It was day after day after day. They’re talking about it. They’re negotiating, they’re doing different things. And sure enough, we got the first check in March and April.
It was actually April of 2020 is when the first wave of them went out. But we got the first check-in April of 2020. The next stimulus check number two. When did that arrive? Yes, the very end of December, 2020 and early January, 2021.
So all those months later, eight months later, is what it took to go from check one to check two. Remember that whole time through the entire time through the remaining portion of the spring of 2020, the summer of 2020, the fall and into the winter of 2020. We were sitting here back and forth every single day. What are they doing now they’re talking about it. They’re discussing they’re negotiating all of that business and then finally they came out with it.
Remember that? Yeah, I do because we were discussing it and we were covering all that information every single day as it was coming out. So anyway, I just want to give that to you as perspective. Just remember that’s what happened before. We’ve been down this road before and we’re on the same path once again trying to figure out what’s Congress going to do and when are they going to offer that additional relief?
So anyway, I’m here for you every single day with all the latest details so if you haven’t done so yet, make sure to subscribe to our site, I’ll continue doing all the research. I distill it all down into these short topics which I delivered a few times each and every day so that you can get all the latest updates as quickly as possible.
I’ll catch you in a little bit later on the next topic. bye