Members of Congress and state legislators are thinking of offering cash rebates to drivers to help with the rising cost of gas. Since March, the national average price of gas has been over $4 per gallon, and it recently reached $5.
Lawmakers are looking for solutions to ease the economic burden as gas prices continue to hover around $5 per gallon: State-level gas tax holidays have been implemented, and President Joe Biden has backed legislation calling for a similar suspension of the federal gas tax.
A federal “stimulus check” for petrol is an alternative, though, and it offers qualified Americans $100 per month through the end of the year or for as long as gas prices are higher than $4 per gallon. With their Gas Rebate Act of 2022, Democratic Representatives Lauren Underwood, Mike Thompson, and John Larson put forth the notion in March.
“Vladimir Putin’s illegal invasion of Ukraine is impacting Americans at the gas pump, and right now, we must work together on common-sense policy measures to lessen the financial burden my people are facing,” Thompson said on March 17.
Their approach hasn’t advanced too far because of Congress’s stance on additional stimulus giveaways. Individual states, though, have embraced the concept and run with it.
The Gas Rebate Act of 2022 is what?
As long as petrol prices remain above $4 on average in 2022, the law will award eligible Americans $100 per month. A further $100 will be given if they have dependents.
The US overcame the $4 barrier in March and hasn’t gone back. (In May, the per-gallon average in all 50 states exceeded $4.)
For whom would a rebate be available?
Compensation is dependent on income levels, much like the pandemic stimulus checks: Less-than-$75,000 earners will receive a total of $100. People earning more than $80,000 would not be entitled to any rebate, and the amount would decrease the more you merit.
Joint filers would receive the whole $100 if their combined income were under $150,000, as reported by Cnet.