The “Gas Compensation Act,” which has the support of three Democratic members of Congress, would provide each household with a $100 monthly energy reimbursement. The refund would remain in effect for the remainder of 2022 if the national average gas price remained above $4 per gallon in any given month.
Wyoming’s average gas price was $4.08 per gallon on Monday, the most recent data available, which was less than the national average of $4.234 per gallon of regular.
Cheney stated in a Monday interview with Cowboy State Daily that the obvious response to rising gas costs is for the US to enhance domestic energy production.
‘We have the resources and capabilities to expand production in Wyoming and across the country,’ she continued, “so that we can regain American energy independence, deliver crucial resources to our neighbours across the world, and lower hardworking families’ high gas and energy bills.”
Check on the Gas Stimulus
Barrasso agreed last week during a press conference that the United States’ oil production should be boosted.
According to him, the US is still producing 1.3 million barrels fewer per day than it did during the pandemic.
This must be expanded, and whether through checks, gas cards, or any other method, they do not add to the answer of increasing energy availability to Americans while they buy.
Another bill proposed by the Democratic-led Congress, the “Big Oil Windfall Profits Tax,” would levy a 50% tax on the difference between the current price of a barrel of oil and the barrel’s pre-pandemic average price between 2015 and 2019.
The lawmakers projected that assuming the price of a barrel of oil remains at $120, the tax will raise $45 billion year, providing $240 and $360 in annual income to single taxpayers and joint filers, respectively.