Plans to Increase COVID-19 Stimulus Payments Won't Benefit Most Social Security Retirees

The Coronavirus Aid, Relief, and Economic Security Act provided coronavirus stimulus checks of up to $1,200 per adult and $500 per dependent child. Most American families who are eligible for COVID-19 payments received these checks already, or will soon. And plans for a second round of direct payments are underway. 

One proposal for more coronavirus money that's already passed the U.S. House of Representatives, the HEROES Act, would increase the amount of the second check for millions of families.

But while Social Security beneficiaries aren't left out of the second round of checks, most retirees won't benefit from the proposed increase to the second COVID-19 payment. Here's why. 

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Source Fool.com