Due to an unprecedented increase in gas prices throughout the nation, stimulus checks have been proposed by Congress
. To help ease the financial strain
, Americans may begin to receive monthly checks. Do you and your family qualify?
The middle class is feeling the impact
Russia’s invasion of Ukraine has sent U.S. gas prices
through the roof, and Democrats are stepping up with their own ideas to help fellow Americans. On March 10th, the nation reached a high of $4.35 per gallon. Californians, especially, felt the cost burden, as the price for gas in the Golden State has already exceeded $6.
According to Fox 13 Salt Lake City
, “The Gas Reimbursement Act of 2022 proposes that Americans receive a $100 energy rebate per month (plus $100 for each dependent) for the rest of 2022 in any month where national average gas prices exceed $4.00 per gallon.” Though no official information has been provided about how these payments would be funded to Americans, it’s likely that they will be executed in a similar fashion to the multiple rounds of coronavirus stimulus checks.
“The rebate would be distributed in the same way that the most recent Economic Impact Payments (EIPs) were sent out, [for] single filers earning less than $75,000,” Fox 13 Salt Lake City reports.
If you file jointly, you’d still qualify if your combined income is $150,000 or less. Families with two children could get up to $300 per month as long as the nation’s average stays above $4.
Other legislative proposals underway
Another idea floating around is to tax oil companies.
Rep. Peter DeFazio of Oregon hopes to integrate the Stop Gas Pricing Gouging Tax and Rebate Act against Big Oil. The Act would create an income-based windfall profit tax on excessive corporate profits and decrease energy prices for Americans with a tax rebate.
A proposal from Democrats Rep. Ro Khanna and Sen. Sheldon Whitehouse would give consumers a quarterly rebate based on a tax levied on gas and oil companies.
CBS News
reports that “The Big Oil Windfall Profits Tax would charge a per-barrel tax equal to 50% of the difference between the current price of a barrel of oil and its pre-pandemic average price between 2015 to 2019, according to a statement from the lawmakers.”Californians could start to feel some relief in the near future as well.
“California Governor Gavin Newsom said he's proposing to send direct payments of $400 per vehicle to state residents, with a cap of two vehicles,” according to CBS News. If approved by California lawmakers, taxpayers could receive checks as early as July from the state’s $9 billion surplus.
U.S. citizens seeking relief
Americans are not only trying to cut costs at the pump, but they’re even cutting back at the grocery
store (due to the largest rise in inflation since 1982). It’s predicted that we could see about $2,000 of increased costs just this year. If you’re budget conscious, another way to save money is to make sure you’re not overpaying every month for your car insurance.
If you want cheap car insurance quotes fast, download Jerry
. A licensed broker that offers end-to-end support, the Jerry app gathers affordable quotes. If you want to switch policies, that’s fine! Jerry can help cancel your old policy. Users save an average of $887 a year. 
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