Update on the Fourth Stimulus Check: the Push for More Money in Congress Has Stagnated!

The federal proposal that would provide Americans with a fourth economic payment remains blocked in Congress, despite growing inflation and high gas prices.

California Democratic Representative Mike Thompson stated in March that he would introduce new legislation called the Gas Rebate Act of 2022, which would send eligible Americans energy rebate cheques.

Representatives John Larson and Lauren Underwood co-sponsored the bill, which came as gas prices in the United States rose as a result of Russia’s invasion of Ukraine.

“Americans are suffering the financial cost of Vladimir Putin’s illegitimate invasion of Ukraine at the pump,” Thompson said in a statement introducing the legislation.

“Right now, we must work together on practical policy measures to lessen the financial burden that my people are feeling.”

According to Thompson, the bill would provide qualified Americans with $100 energy rebate cheques “for the rest of 2022 in any month where national average gas prices surpass $4.00 per gallon.”

Update on the Fourth Stimulus Check: the Push for More Money in Congress Has Stagnated!

Thompson’s office stated in a press release that the bill would follow the same method as many previous Economic Impact Payments, providing “$100 for single taxpayers earning less than $75,000 and tapered out at $80,000” and “$100 for joint filers earning less than $150,000 and phased out at $160,000.”

The measure was referred to the House Committee on Ways and Means shortly after it was introduced in the House of Representatives, where it is now blocked. It’s unclear when the proposal will be put to a vote.

Following Russia’s invasion of Ukraine on February 24, the United States imposed a slew of sanctions on its economy. President Joe Biden issued an executive order in March prohibiting the purchase of Russian oil, causing a surge in gas prices across the country.

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“The United States imported nearly 700,000 barrels per day of crude oil and refined petroleum products from Russia last year, and this step will deprive Russia of billions of dollars in annual revenues from U.S. drivers and consumers,” the White House said in a statement after Biden’s executive order.

Following Russia’s invasion of Ukraine and America’s prohibition on Russian oil imports, according to data from the American Automobile Association (AAA), gas prices have stayed higher than in prior years. According to AAA, the national average gas price was $4.159 on Friday, April 29.

According to AAA data from a year ago, the national average was $2.889. According to AAA data, the national gas price average was $4.244 a month ago.