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Stimulus Checks for Gas Prices? Pump Relief Is Being Considered by Lawmakers.

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To help with gas prices, will stimulus checks be issued? As record-high gas prices wreak havoc on drivers’ wallets, lawmakers around the country are proposing a slew of bills aimed at providing respite at the pump.

While Biden’s administration contemplated sending gas cards through the IRS, House Democrats have proposed alternatives that are similar to popular economic relief programmes like stimulus checks and the advance child tax credit.

The nationwide average price for a standard gallon of petrol was $4.24 on March 22, according to AAA’s gas price tracker.

In three states: California, Hawaii, and Nevada, the average price of a gallon of gas was over $5. Several other states, including Washington, Oregon, Alaska, and Arizona, are approaching the uncomfortable price point.

With this in mind, legislators are considering how they can assist American families who are struggling.

Reps. Mike Thompson of California, John Larson of Connecticut, and Lauren Underwood of Illinois are proposing a $100-per-month energy rebate for individuals and $200-per-month for couples, based on criteria similar to those used for stimulus cheques.

ECONOMY

Each month when the national gas price hits $4 per gallon, the scheme would add $100 to each dependent and would be paid to families.

Single filers with an annual income of up to $75,000 or married couples filing jointly with an annual income of up to $150,000 are eligible. The Gas Rebate Act would remain in effect until the year 2022.

Another two solutions are reliant on oil company earnings.

Families would receive a monthly tax credit under Oregon Rep. Peter DeFazio’s Stop Gas Price Gouging Tax and Rebate Act. A one-time fee on oil firms would finance the programme.

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The criteria for eligibility would be the same as for the stimulus checks programme. The amount of money gathered from oil company taxes would determine how much Americans got. The bill, according to DeFazio, is aimed at big oil companies.

Rochester’s gas costs are finally coming down. It’s similar to a previous proposal by Rep. Ro Khanna of California and U.S. Sen. Sheldon Whitehouse of Rhode Island, which calls for a quarterly rebate funded by oil-company taxes:

Khanna predicted that single taxpayers would earn $240 per year, while joint filers would receive $360 per year, based on $120 per barrel of oil.

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