Update on the Stimulus: a $100 Monthly Payment Is Recommended to Help Offset the Cost of Rising Gas Prices.

A group of Democratic members of Congress is proposing a new kind of stimulus payment that will assist Americans who are trying to keep up with rising gas prices.

Members of Congress from California, Connecticut, and Illinois have introduced the Gas Rebate Act of 2022, which would grant rebates to consumers who use natural gas to heat or cool their homes.

In every month in which the national average gas price surpasses $4 a gallon, the bill suggested giving Americans an “energy refund,” which would be $100 per month with an extra $100 per dependant for the remainder of 2022, as well as an additional $100 per dependent for the rest of 2022.

Update on the Stimulus: a $100 Monthly Payment Is Recommended to Help Offset the Cost of Rising Gas Prices.

According to Thompson, “Americans are suffering the consequences of Vladimir Putin’s unlawful invasion of Ukraine at the gas pump, and right now we must work together on practical policy measures to lessen the financial burden that my constituents are experiencing.”

As a result of the Putin Price Hike, we are seeing pressure on our economy, and I am delighted to be working with Reps. Larson and Underwood to present legislation that would give middle-class Americans with monthly payments to help them cope with the financial weight of this global crisis.”

The reimbursement would be calculated in accordance with the same criteria as the most recent Economic Impact Payment:

  • Single filers earning less than $75,000 are subject to a $100 tax, which is phased out at $80,000.
  • Joint filers earning less than $150,000 will pay $100, with the tax phased out at $160,000.

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Because the plan does not provide specifics on how the payments would be paid, and because Congress has been unwilling to begin any other sort of stimulus payments, it is unlikely to be passed. Gas prices have been at record highs for more than a month, and there appears to be no relief at the pump insight.

According to the AAA, the national average price for a gallon of gasoline in the United States is $4.24 as of today.