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Pump Relief Stimulus Is Being Discussed by Legislators.

Pump Relief Stimulus Is Being Discussed by Legislators.

Efforts to give some respite at the pump are being considered by legislators as record-high gas prices hammer drivers in the pocketbook.

It may take the shape of a stimulus check, such as the one provided during the pandemic relief initiative.

According to FOX 59, Democrats in the House have proposed this as a solution.

The Biden administration explored distributing gas cards through the Internal Revenue Service (IRS).

According to the American Automobile Association, the national average price for a normal gallon of petrol was $4.24 on March 22.

Reps. Mike Thompson of California, John Larson of Connecticut, and Lauren Underwood of Illinois are calling for a $100 per month energy rebate for individuals and $200 per month for couples for each month that the national gas price exceeds $4 per gallon, as proposed by the House Energy and Commerce Committee.

Californians are coping with some of the highest gas costs in the country. On Wednesday, Democratic Gov. Gavin Newsom unveiled a proposal that could result in a tax break, free public transportation rides, and up to $800 in debit card funds to help pay for gasoline.

The money would be distributed to everybody who owns a vehicle that is registered with the state. According to the Associated Press, Newsom wants the state to pay for the bus or train cost for those who don’t have access to a vehicle for a period of three months.

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Two further plans are predicated on the earnings of oil companies.

Families would receive a monthly tax credit under Rep. Peter DeFazio’s idea, which is being considered in Oregon. The funding for the plan would come from a one-time charge on oil firms.

“Big Oil will be subject to a one-time, 50 percent windfall profit tax in 2022 on any adjusted taxable income (ATI) that exceeds 110 percent of their average ATI during pre-pandemic levels between 2015 and 2019,” DeFazio explained.

Former Representative Ro Khanna of California and U.S. Senator Sheldon Whitehouse of Rhode Island proposed a quarterly refund from the money earned by taxing oil firms in a previous plan.

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