Latest News

Unintended Consequences of Stimulus Payments - CNBC

Talk about unintended consequences! Those stimulus payments (officially called “Economic Impact Payments”) sent out during the pandemic were certainly a blessing to needy Americans, helping them through a difficult national crisis. Thing is, many who received those stimulus payments were also receiving Supplemental Security Income (SSI) through the Social Security Administration (SSI is not a Social Security old age benefit, but rather a general assistance program for those in need, with strict limits on income and assets). Unfortunately, in many cases the stimulus payments caused SSI income and asset limits to be exceeded, resulting in some recipients losing their much-needed SSI assistance. This CNBC article by Lori Konish elaborates on the issue and discusses that Congress is demanding answers from the Social Security Administration about the extent of damage inflicted on SSI beneficiaries, hopefully leading to corrective action for those affected. Click here to read more.

Notice: The link provided above connects readers to the full content of the posted article. The URL (internet address) for this link is valid on the posted date; cannot guarantee the duration of the link’s validity. Also, the opinions expressed in these postings are the viewpoints of the original source and are not explicitly endorsed by AMAC, Inc.; the AMAC Foundation, Inc.; or

What's Your Opinion?

We welcome your comments. Join the discussion and let your voice be heard. All fields are required

Website by Geiger Computers