Gas prices continue to hover near record highs. Inflation is at its highest point since the 1980s. Americans are suffering economically, and Congress is considering providing additional assistance in the form of stimulus payments similar to those distributed during the pandemic.
According to WQAD, one proposal being considered by House Democrats would provide $100 in energy rebates to individuals, $200 to couples, and an additional $100 to dependents for any month in which the national average price of gasoline exceeds $4 per gallon.
The rebate would be in effect until the end of the fiscal year 2022. Individuals and families would get compensation according to on their income, similar to the economic stimulus payments made during the pandemic.
Another proposal under consideration is the Stop Gas Price Gouging Tax and Rebate Act. According to WQAD, this plan does not take into account the average price of gasoline but instead calls for households to receive a monthly advance tax credit, similar to the Child Tax Credit that was implemented last year. The quantity of money distributed to Americans will be determined by the amount of money earned through oil company taxation.
According to WQAD, the national daily average price of gasoline has remained above $4 per gallon for two weeks. While Monday’s price of $4.25 per gallon was down 7 cents from a week ago, it is 72 cents more than a month ago and $1.37 higher than a year ago.
Do you want the government to send you money to offset the rising cost of energy?