When petrol prices hit an all-time high early this month, Americans were already facing severe inflation. Some senators now want the federal government to provide stimulus checks to assist alleviate the agony of filling up the gas tank.
Owing to the current spike in petrol prices, American households might experience a $2,000 increase in spending this year — on top of an extra $1,000 in grocery store costs due to the sharpest rise in inflation since 1982.
Gas Stimulus Check Is Being Considered By The House
Consumers are already cutting back on spending and driving less, with the majority blaming sticker shock at the gas pump.
In a statement on the idea, Thompson claimed that the gas stimulus would “give mid-class American residents monthly stimulus checks to lessen the financial strain of the global catastrophe,” alluding to Russia’s invasion of Ukraine, which has driven gas prices higher.
Currently, millions of Americans would be eligible for the reimbursements based on current gas prices, which, according to AAA, averaged $4.24 per gallon on March 22.
While it’s uncertain whether any of the proposals will pass, politicians are concerned about the burden on American households caused by rising gas costs. Here’s how these ideas might operate in practice. The Gas Reimbursement Act, presented by Thompson, Larson, and Underwood, would offer a $100 per person monthly energy rebate. That refund would be available for the remainder of 2022 if the national average gas price surpassed $4 per gallon in any given month.
Both joint and single tax applicants would receive $100 under the plan, with each dependant receiving $100 as well. In other words, a family with two children might earn a monthly reimbursement of up to $300.
