Written By: Anushka
In 2024, the US government will issue $550 and $2400 stimulus checks to low-income citizens to combat inflation.
The $550 checks will assist over 700,000 families, aiming to cover essential expenses like food and fuel.
Recipients must file a 2022 tax return, earn below $59,187 annually, and have net investments under $10,300.
Individuals over 62 will receive $2400 checks from Social Security, targeting those most affected by inflation.
Checks are expected in February 2024, offering crucial support to low-income households during economic challenges.
Eligible individuals do not need to apply; checks will be distributed automatically based on tax records.
These payments aim to stimulate the economy by boosting consumer spending and providing financial relief.