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(Washington D.C.)- The $250 economic recovery payments for Social Security recipients, which were provided by the American Recovery and Reinvestment Act, will begin to go out on today, May 7 – with the goal of all these payments being sent out by the end of May.
“In our state of Michigan, 1,649,485 social security recipients will receive this boost, and $468 million will flow into our state economy,” stated Rep. Levin. “These are difficult and uncertain times and Michigan families need support and reassurance that action is being taken on their behalf.”
In addition to the economic recovery payments being made to Social Security recipients, the Recovery Act also provides these payments to Supplemental Security Income (SSI) recipients, disabled veterans, and Railroad Retirement recipients. The payments to SSI recipients are scheduled to begin in mid-May, to Railroad Retirement recipients in late May and disabled veterans in June. Nationally, 50 million individuals will receive this one-time recovery payment.
Background
- Social Security is the only source of income for nearly one-third of all nonmarried seniors receiving Social Security.
- The median annual income for nonmarried Social Security recipients over age 65 who are women is only $13,151. The median annual income of nonmarried Social Security recipients over age 65 who are men is only $17,611.
- Nearly 30 percent of nonmarried Social Security recipients who are women over age 65 are poor or near-poor – with 17.4 percent living below the federal poverty line and another 10.8 percent with incomes below 125 percent of the poverty line.
If someone regularly receives benefits from two or more of these programs – such as Social Security and Railroad Retirement, or a disabled veterans’ benefit and SSI – he or she will receive just one $250 payment.
The President approved the Economic Recovery and Reinvestment Act as part of a vital effort to jumpstart the economy, create jobs, help workers hurt by the economy, and make key investments to transform the economy. Michigan is estimated to receive $18 billion through Recovery package programs.
Rep. Sander Levin’s office has prepared a Community Resource Guide to assist local communities and community organizations evaluate their participation in Recovery programs. The Guide also contains Fact Sheets to assist individuals with the programs that might assist them directly.
The 12th District Economic Recovery Guide can be found at www.house.gov\levin
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