Extra $2,400 a Year For Social Security Recipients

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Recently, a bill is introduced to Congress.

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If the bill passes, the social security recipients will get an extra $200 monthly benefits.

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They will get $2400 a year in 2023 if the bill wins the house.

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This bill is introduced because inflation is soaring. And the current social security checks are not adjustable to current inflation.

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This year’s Social Security Cost-of-Living Adjustment (COLA) of 5.9% is based on inflation figures from 2021.

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But this year inflation pushed above 8%. It means Social Security recipients are actually losing money.

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If the bill passes Congress, a $200 increase would represent a 12% boost.

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