Many people are complaining about the recent spike in gas costs, and the impact on everyone’s budget isn’t going unnoticed. The national average for gasoline is $4.24 a gallon, according to the website GasBuddy.
Legislators in various states are circulating proposals that would provide a small monthly stimulus to families that qualify based on their adjusted income from the previous year. Known as the “fifth stimulus check,” people who qualify would receive up to $400 per month to help alleviate the pain of a tank of petrol eating away at your pocketbook.
“This proposed rebate would cover the existing 51 cents per gallon gas tax for a full year of weekly fill-ups for a car with a 15-gallon petrol tank,” legislators said.
Checks Would Be Provided to Qualifying or Struggling Families Who Met the Following Requirements, According to the Stimulus:
- For married filers, the maximum adjusted income is $160,000.
- Earn up to $80,000 if you’re a single filer.
- Regularly pay your income taxes.
In Terms of How Much Money Each Household Will Receive, the Following Sums Will Be Given After Qualifying Factors:
- For single filers, the monthly fee is $100.
- For joint filers, the monthly fee is $200.
- Each dependent will be charged $100.
The extra money may not seem like much in comparison to monthly expenses, but depending on each person’s daily commute, it may save a tank or two per month. Additionally, regardless of car ownership status, the subsidies are available to all qualified households.
For the time being, the concept is gathering traction, and if adopted, it will be marketed as a gas tax rebate with tax consequences comparable to the Economic Impact Payment.