Joe Biden
Posted inEconomy

Eliminating Taxes on Social Security Benefits – A Potential Challenge for the US

Social Security, a cornerstone of American retirement planning, is in serious financial trouble. Despite the looming insolvency, political leaders like Vice President Kamala Harris and former President Donald Trump have taken a stance to avoid making significant changes to the program. Trump has even proposed eliminating taxes on benefits, a move that could exacerbate the ... Read more
Joe Biden
Posted inEconomy

Upcoming Changes to SNAP – Standard Deductions, Shelter Cap and More

The Supplemental Nutrition Assistance Program (SNAP), previously known as the Food Stamps program, will see significant changes starting in the fall of 2024. The U.S. Department of Agriculture (USDA) and the Food and Nutrition Service have announced new adjustments to SNAP deductions and shelter caps, which will affect millions of Americans who rely on these ... Read more
Joe Biden
Posted inEconomy

Supplemental Security Income – What Are the Conditions for Noncitizens to Qualify for SSI Payments?

Supplemental Security Income (SSI) is a vital program that provides monthly payments to individuals with low income who are aged, blind, or disabled. The maximum payment for eligible individuals can be up to $943. However, qualifying for SSI is not solely based on income; there are also residency requirements, particularly for noncitizens living in the ... Read more
Joe Biden
Posted inEconomy

$440 Monthly Increase for Low – Income, SSI, and SSDI – Eligibility, Payment Dates, and Latest Updates

In 2024, millions of Americans who depend on Social Security, Supplemental Security Income (SSI), and Social Security Disability Insurance (SSDI) will see a significant boost in their monthly benefits. The U.S. government has announced a fixed $440 increase every month for eligible recipients, aimed at helping them manage the rising cost of living and inflation. ... Read more
Joe Biden
Posted inEconomy

$49/Month COLA Increase for 2025 – Projected 2.63% COLA for Next Year ,Is It Adequate?

As speculation around the $49 per month Cost of Living Adjustment (COLA) increase for 2025 gains attention, many retirees are questioning whether this projected boost will be sufficient to meet their financial needs. The annual COLA is a critical component of Social Security benefits, aimed at helping recipients keep up with inflation. However, with rising ... Read more
Joe Biden
Posted inEconomy

$1,407 Stimulus Payment Approved Under This Program – Check Eligibility and Dates

The New York Government has recently approved a $1,407 stimulus payment aimed at providing financial relief to homeowners under the STAR (School Tax Relief) program. This initiative is designed to ease the burden of school taxes, especially amidst the ongoing economic challenges. Here's everything you need to know about this payment, including eligibility criteria and ... Read more
Keir Starmer
Posted inEconomy

List of People Who Can’t Claim Universal Credit Next Month – DWP Announces Updated List

The Department for Work and Pensions (DWP) has recently released an important update detailing specific groups of people who will be exempt from transitioning to Universal Credit (UC) in the coming months. As the DWP progresses with moving individuals from older benefit systems to UC, not everyone will be affected by this change. Knowing who ... Read more
Justin Trudeau
Posted inEconomy

Seniors Aged 64 and Over to Receive $1,360 per Month – Canada CPP Payment Fact Check

The Canada Pension Plan (CPP) is a fundamental aspect of the country's social safety net, providing financial support to retirees and their families. Managed by the Canada Revenue Agency (CRA), the CPP delivers monthly payments to eligible seniors based on their contributions during their working years. For seniors aged 64 and above, the monthly payment ... Read more