When the Americans were already facing inflationEarlier this month, some lawmakers wanted the federal government to offer stimulus payments or rebate checks to help ease the pain at the pump.
According to a new bill proposed by California MP Mike Thompson, Connecticut’s John Larson and Illinois’ Lauren Underwood, families with two children can receive up to $ 300 a month as long as the country’s average gas price is $ 4 per gallon. Not more than All three legislators are Democrats.
American consumers could see.Due to the recent rise in gas prices – and this is the highest increase in inflation since 1982 – an increase of over $ 1,000 in grocery store costs. Already, consumers are reporting that they are cutting costs or driving less, mostly with accusatory stickers. Shock on the pump.
The gas stimulus will “provide monthly payments to middle-class Americans to ease the financial burden of this global crisis,” Thompson said in a statement referring to Russia’s attack on Ukraine. Has increased gas prices.
Currently, millions of Americans will be eligible for payments based on current gas prices, which, according to the AAA, averaged ً 4.24 per gallon on March 22.
While it is unclear whether any bill will go ahead, the pressure on American households due to high gas prices is clearly on the minds of lawmakers. Here’s how these tips work.
$ 300 per month for families
Called the Gas Rebate Act, the bill proposed by Thompson, Larsen and Underwood would provide شخص 100 per month energy rebate to each person. This refund will start in the rest of 2022 as long as the national average price of gas in any given month is above $ 4 per gallon.
Under the bill, joint and sole tax filers would receive 100 100 each, while each dependent would receive 100 100. In other words, a family with two children can receive up to $ 300 a month in rebate checks.
The plan will act like the three stimulus checks offered by the federal government in 2020 and 2021, with payments aimed at low- and middle-class households. Singles earning less than $ 75,000 a year will receive a full 100 rebate, while checks for those earning up to $ 80,000 will be phased out.
According to Thomson, joint filers earning less than $ 150,000 will be eligible, paid up to $ 160,000 in phased household income. The proposal does not specify how the rebate check will be paid, and the text of the bill has not yet been published.
60 360 per year discount for families
Democrat rap from California. Democrat Senator Sheldon White House’s second proposal from Roh Khanna and Rhode Island would provide consumers with a quarterly rebate based on taxes on oil and gas companies.
Of Big Oil Windfall Profit Tax According to a statement from lawmakers, it will levy a tax per barrel equal to 50% of the difference between the current price of a barrel of oil and the pre-epidemic price between 2015 and 2019.
Both lawmakers calculated that if the price per barrel sat at $ 120, the tax would increase by about ً 45 billion annually – providing فائل 240 per year for single filers and $ 360 per year for joint filers.
“Russia’s invasion of Ukraine has pushed up gas prices, and fossil fuel companies are making record profits. These companies have made billions and used the profits to enrich their shareholders,” Khanna said in a statement. While the average American is suffering at the pump, “Khanna said in a statement.
Discounts based on oil company profits
A third proposal by Rep. Peter de Fazio, D.- Oregon, would create discounts based on the oil company’s profits. It is unknown at this time what he will do after leaving the post.
“My legislation will tax Big Oil’s excess profits in 2022 and return the proceeds to Americans,” de Fazio said in a statement on the bill. Close the Gas Price Guessing Tax and Rebate Act..
DeFazio pointed to a report by watchdog group Accountable.us which found that the largest oil and gas companies Earned a record 5 205 billion Profit in 2021.
The Treasury Department will determine the amount of tax credit based on the income earned by taxing the profits of oil and gas companies. The bill proposes that large oil and gas companies will pay a one-time 50% tax on any adjustable taxable income in 2022, which is more than 110% of their average adjustable taxable income between 2015 and 2019. , Or according to the years before the epidemic. A statement from Representative Underwood, who introduced the bill with de Fazio.
Like the federal stimulus check, the rebate will be income limit. Single filers earning less than $ 75,000 and joint filers earning less than $ 150,000 a year will be eligible for payments.