A group of Democratic lawmakers in Congress is proposing a new type of stimulus payment to help Americans cope with rising gas prices.
The Gas Rebate Act of 2022 was introduced by Reps. Mike Thompson (D-California), John Larson (D-Connecticut), and Lauren Underwood (D-Illinois). In any month that the national average gas price exceeds $4 a gallon, the plan suggested sending Americans an “energy refund” of $100 per month, with an additional $100 per dependent for the remainder of 2022.
“Americans are paying the price for Vladimir Putin’s illegal invasion of Ukraine at the pump,” Thompson said. “Right now, we need to work together on practical policy solutions to lessen the financial burden that my constituents are bearing.” “The Putin Price Hike is putting a strain on our economy, and I’m glad to be working with Reps. Larson and Underwood to draught legislation that will provide middle-class Americans with monthly payments to help them cope with the financial weight of the global crisis.”
The reimbursement would be calculated in the same way as the most recent Economic Impact Payment:
- Single filers earning less than $75,000 will pay $100, with the tax phased out at $80,000.
- Joint filers earning less than $150,000 pay $100, with the tax phased out at $160,000.
Because the bill does not specify how the payments will be paid, and Congress has been hesitant to begin any other sort of stimulus payments, the passage is uncertain. The law comes after a month of record-high gas prices, with no relief in sight at the pump.
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According to AAA, the national average price of a gallon of gas in the United States is $4.24 as of today.