BERNIE SANDERS APPROVES THIS - $4100 MONTHLY PAYMENT COMING IN BANKS TODAY FOR ALL SOCIAL SECURITY

hey everyone welcome back to stimulus updates your go to channel for the latest news and updates on economic stimulus packages I'm your host Joseph and today we have some exciting developments to share with you Senator Sanders known for his passionate advocacy for the workingclass and seniors has been pushing for this bill for months and now it's finally happening Sanders has long argued that our seniors and disabled veterans have been left behind in an economy that seems to favor the wealthy with Rising costs of living medical expenses and inflation eating away away at fixed incomes many of our most vulnerable citizens have been struggling to make ends meet but that's all about to change this new bill aptly named the senior citizens and Veterans Financial Security Act is set to revolutionize how we support our elderly and disabled veterans here are the key points of this groundbreaking legislation a monthly payment of $4,100 will be deposited directly into the bank accounts of eligible recipients this applies to all Social Security Supplemental security income SSI social security disability insurance SSDI and Veterans Affairs via beneficiaries the payments are tax-free and won't affect other benefit fits the program is set to begin next month and will continue indefinitely subject to annual review as you can imagine this news has been met with overwhelming joy and relief from millions of Americans who have been struggling to keep up with the rising cost of living I've been pinching pennies for years choosing between medication and groceries this extra money it's life-changing I can finally live with dignity in my golden years is but how exactly is this massive Financial undertaking being funded well that's where things get interesting in a move that's raised eyebrows on Wall Street the bill includes a provision that puts the onus on big Banks to foot the bill that's right the same financial institutions that received bailouts during the 2008 financial crisis are now being called upon to give back to the American people for too long the big banks have profited off the backs of hardworking Americans it's time they pay their fair share and help support the very people who bailed them out years ago under this new law banks with assets over $50 billion will be required to contribute a percentage of their profits to fund these payments the exact percentage will be calculated based on the bank's size and annual earnings but it doesn't stop there the bill also includes measures to prevent Banks from from passing these costs onto consumers through increased fees or reduced Services any Bank found attempting to circumvent these rules will face Hefty fines and potential criminal charges for executives while this is certainly a bold move it's not without precedent many European countries have similar programs in place to support their aging populations the real question is how this will affect the banking sector in the long term inde indeed the long-term implications of this bill are yet to be seen but for now millions of Americans are breathing a sigh of relief from coast to coast we're seeing scenes of Jubilation as the news spreads retirement communities are buzzing with excitement disabled veterans are finally seeing a light at the end of the tunnel and families are looking forward to providing better care for their elderly loved ones but not everyone is celebrating critics of the bill argue that it puts too much pressure on the banking sector and could lead to unintended consequences for the economy while we all want to support our seniors and Veterans this bill is shortsighted it could lead to job losses in the financial sector and potentially destabilize our banking system these concerns are being taken seriously and the bill includes Provisions for ongoing monitoring and adjustments as needed but supporters argue that the benefits far outweigh the potential risks economic experts project that this influx of cash into the hands of seniors and Veterans could stimulate local economies Across the Nation with more money to spend on goods and services we could see a boost in small businesses and job creation in sectors catering to older Americans I run a home care service and already I'm seeing an increase in inquiries people are looking to hire help or upgrade their living situations this could be great for businesses like mine but what does this mean for you if you're a recipient of Social Security SS isdi or via benefits here's what you need to know the payments will begin automatically you don't need to apply expect to see the first deposit in your account within the next 30 days the funds can be used however you see fit there are no restrictions this does not affect your eligibility for other assistance programs be wary of scams the government will not ask for personal information or fees to process these payments unfortunately whenever there's a new benefit program scammers try to take advantage remember if someone contacts you asking for personal information or money related to these payments it's a scam report it immediately as this story develops we'll be keeping a close eye ey on its implementation and impact but for now let's hear from some more of the people whose lives are about to change I sered this country proudly but I've been struggling since I came home this money means I can finally get the medical care I need without worrying about bankrupting my family we've been married for 50 years but lately we've been living paycheck to paycheck now we can finally take that trip we've been dreaming about for decades these stories remind us of the real human impact of policy decisions it's not just about numbers on a page it's about dignity quality of life and the Fulfillment of our obligations to those who have given so much to our country as we wrap up today's breaking news let's recap the key points of this historic legislation $4,100 monthly payments for social security ssis SDI and Via beneficiaries funded by contributions from large Banks set to begin next month potential for significant economic stimulus measures in place to protect consumers and monitor impact this is undoubtedly one of the most significant changes to our social safety net in decades as always we'll be here to bring you the latest updates and Analysis as this story unfolds what do you think about this new bill will it make a difference in your life or the lives of of your loved ones let us know in the comments below and if you found this video informative please don't forget to like subscribe and hit that notification Bell to stay up toate with all our breaking news reports reminding you that staying informed is the first step to making a difference until next time take care of yourselves and each other