Should Government Send Out Gas Price Stimulus Checks?
Gas prices remain at near-record highs. Inflation is the worst it has been since the 1980s. Americans are hurting economically and Congress is looking at possibly sending out more help similar to stimulus checks that people received during the pandemic.
WQAD reports that one proposal being suggested by House Democrats would send out energy rebates of $100 per individual, $200 for couples, and an additional $100 per dependent, for each month the national average price of gasoline is over $4 per gallon. The rebate would be in effect through the ned of 2022. Payments would go out to individuals and families based on income, much like economic stimulus payments that went out during the pandemic.
Another plan being developed is called the Stop Gas Price Gouging Tax and Rebate Act. According to WQAD, this plan does not look at the average price of gas but instead calls for households to receive a monthly advance tax credit, much like last year's Child Tax Credit. The amount of money that goes out to Americans will depend on how much money is raised on the taxing of oil companies.
The national daily average for gas has been above $4 per gallon for two weeks, according to WQAD. While Monday's mark of $4.25 per gallon was down 7 cents from one week ago, it is still 72 cents higher than just one month ago and $1.37 more expensive than one year ago.
Do you want the government to send money to help offset high energy prices?