The inflation rate in America is at its all-time high due to high gas prices. This has led lawmakers to look for ways to ease the burden on American motorists by offering stimulus checks or rebates from the federal government.
The Gas Rebate Act of 2022
Because of Russia’s invasion of Ukraine, the average cost of gas in the country has passed the $4 mark, according to the American Automobile Association. This is what prompted House Reps. Mike Thompson of California, John Larson of Connecticut and Lauren Underwood of Illinois to sponsor a bill that would authorize monthly gas rebates if the average gas price exceeds $4 per gallon. The Gas Rebate Act of 2022 would send individuals making $75,000 or less – or joint filers making $150,000 or less $100 every time gas prices are above $4 per gallon in any month for the rest of the years. Families with 2 children will be able to get a $300 gas stimulus per month.
The bill would work similarly to stimulus checks that were sent to Americans during the early stages of the coronavirus pandemic.
States Are Proposing Tax Holidays on Gas
Meanwhile, legislators from Florida, Connecticut, Maryland, Georgia, and other states have proposed gas tax holidays which would allow gas stations to temporarily suspend gas taxes to help lower the prices. Gas taxes don’t have much impact on the overall price as gas taxes ranges from 15 cents to 68 cents per gallon.
When Will These Gas Checks Begin to Be Given out
A month ago, the national gas average if $3.54 per gallon. A year ago Americans are paying $2.88 per gallon. Gas prices today surged to $4.24 across the US. This puts the lawmakers under pressure since it is hard to say whether gas prices will be back to normal anytime soon. The bill is still at the very beginning of the process of becoming law. It will still need to go through the committee and to the floor of the House of Representatives for a vote.
