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Monday, September 26, 2022

Stimulus Check Update: Possibility Of A Gas Stimulus Payment

The rising prices of gas throughout the United States of America have led to the citizens clamoring for another stimulus check payment. This has led to the government taking several steps to alleviate the costs, which include pushing for tax breaks at both the state and federal levels.

This could definitely be helped with the introduction of the stimulus payment for gas- if at all that sees the light of the day in Congress. This has been a recurring proposal that most Democratic legislators have brought forth to lower the costs for a multitude of gas consumers.

Chances Of A Stimulus Check Payment For Gas

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In order to attack the rise in the prices of gas- which followed the onset of the invasion of Ukraine by Russia, Congressional Representatives Mike Thompson, Lauren Underwood, and John Larson brought out the Gas Rebate Act of 2022. This stimulus check proposal would be issuing the Americans with rebates of around $100 per month, along with a sum of $100 for each dependent, only for those taxpayers that have been living in areas where the average price for a gallon of gas is above $4.00. This initiative would see itself run from the time it gets approved until it reaches the end of the year. 

There are certain eligibility requirements that one needs to meet to receive the stimulus check for gas. Any taxpayer that will be filing its taxes under the Single status- and would further earn less than $75,000 a year will be receiving this rebate. Although, it has been understood that if an individual were to earn above $80,000, they would be receiving a far smaller amount- until it gets phased out slowly. 

Another substitute to the stimulus check plan that could get approval has been the Stop Gas Price Gouging Tax and Rebate Act- introduced by Peter DeFazio in Congress.

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