Suddenly, millions of Americans may be eligible for federal stimulus money. Rising gas costs are pushing lawmakers to propose various types of what amounts to a gas refund.
That’s a far cry from where we were in terms of stimulus in late 2021. Remember, it just took one Democratic US Senator to stop the federal government from sending monthly stimulus payouts in 2022. So would President Biden, especially as we approach a tough midterm election season this autumn.
Gas costs may have supplied the perfect pretext for more checks.
Let’s start with states and work our way up to the federal level.
Following two rounds of Golden State Stimulus payments, California Governor Gavin Newsom proposes the third round.
Every owner of a registered vehicle in the state would receive $400. The money will be in the form of a debit card by July if the state assembly approves the idea.
The payments would also be capped at two vehicles per individual. People may get up to two payments.
Gasoline excise taxes average $300 per year, according to Newsom’s administration.
“The proposal provides up to two $400 rebates per vehicle, to accommodate families with multiple vehicles,” Newsom’s office noted in a press release.
“Eligibility will be based on vehicle registration rather than tax records to cover seniors on SSDI and low-income non-tax filers.
The Governor’s proposal has no income cap to cover all Californians who are paying more for oil.”
2022 Gas Rebate Act
Legislators from across the country are debating potential gas refunds to offset price hikes.
The Gas Rebate Act of 2022. Remember that bill’s name, because it’s probably the best opportunity for a federal stimulus check. For now.
Three Democratic House members propose a bill authorising $100 monthly stimulus payouts this year.
That is if the national average gas price exceeds $4/gallon. We’re already there if you’ve recently refilled your tank.
Currently, this act contains a means test. Those earning less than $75,000 a year would get the full monthly. After $80,000, it gradually fades away.
Couples earning less than $150,000 would also get a full refund. The payment would end at $160,000 for joint filers.