The government wants to assist with the high cost of fuel with a stimulus check. A relief plan may be needed as Americans may purchase $2,000 more in gas this year.
If the country’s average gas price stays at $4 a gallon, certain Americans could receive $300 a month to pay for the expense. This new bill was proposed by Democratic Representatives Mike Thompson, John Larson and Lauren Underwood.
Reports indicate that the gas stimulus will “provide middle-class Americans with monthly payments to ease the financial burden of this global crisis.”
The “Gas Rebate Act” would offer $100 per month to joint and single filers. To add, an extra $100 would be available for each dependent if the gas prices remain high. As with other stimulus checks, single individuals earning less than $75,000 and joint filers making less than $150,000 a year would be eligible. It will begin to phase out for singles making up to $80,000 and $160,000 for joint filers.
The proposal suggests that the funds to cover the stimulus would come from a tax on oil and gas companies. This is because their earnings have increased tremendously.
It isn’t clear if the probability that the bill will pass is great, but as many Americans are choosing to drive less, some form of action is needed quickly. If not, the economy could be greatly impacted even more.
