Gas Stimulus: Who Can Expect the Checks?
Gas is one of the top items on the "costs more than it used to" list. The cost of gas just to get to work and back every day is eating into Americans' wallets.
In May of this year, national average gas prices surpassed $4 per gallon, and continued to rise until they reached a staggering high of $5.03 in July of 2023.
To offer some relief, Representatives Mike Thompson of California, John Larson of Connecticut, and Lauren Underwood of Illinois, have introduced The Gas Rebate Act of 2022 in May. It would give Americans a $100 energy rebate (plus an additional $100 per dependent) for each month that the national average price of gas exceeded $4 per gallon.
According to AAA, the national average for a gallon of gas right now is $4.857. Even though the price has dropped since it spiked above $5 per gallon earlier this year, it might be a while before it falls below $4.
Individuals making less than $75,000 annually will receive the entire $100 under the Gas Rebate Act of 2022. People making more than $80,000 would not be qualified for the payout. The full $100 would be awarded to joint filers making less than $150,000, while those making $160,000 or more would be exempt.
The plan is still stalled in the U.S. House, primarily due to opposition from legislators who oppose adding any more relief initiatives after a series of stimulus payments that were made during the pandemic.
