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Sunday, September 25, 2022

Stimulus Check Update: Payments Pushed To Negate Rise In Gas Prices

Some legislators have been pushing for proposals to bring out a stimulus check payment that would ease the financial burden on Americans. This has been deemed important considering the increase in gas prices, which could definitely be offset through rebates and stimulus payments.

Interestingly, the steepest increase in inflation throughout the decades has already touched Americans hard when the prices of gas went up by record highs in the early part of this month- which was definitely fueled largely by the invasion of Ukraine by Russia. 

Stimulus Check Issued For Gas Prices

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According to information provided by AAA, the national average price of unleaded gas was situated at $4.237 a gallon on Wednesday. Several legislators have also brought in measures that would seek to help those who have been under this financial strain for far too long. As reported by the media, the bill- proposed by Reps. Mike Thompson of California, John Larson of Connecticut, and Lauren Underwood of Illinois would issue Americans with an energy rebate of about $100- their stimulus checksum. They will also see to it that a sum of $100 is kept aside for each dependent, for any month where the gas price would go above $4 per gallon. 

This stimulus check proposal would be working in a similar way to the stimulus payments that the federal government issued in 2020 and 2021. Single filers that have been earning below $75,000 annually would receive the full rebate. But the checks would definitely see themselves getting phased out for those that were earning up to $80,000. 

It has also been reported that joint filers who have a cumulative earning of less than $150,000 would be qualifying for the payment, but the stimulus check would definitely get phased out at a sum of $160,000.

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