Monthly checks for inflation: which states will give them and when?
Congressional leaders have released proposals to provide relief for increasing gas prices. Meanwhile some states have already taken steps to reduce costs.
The coronavirus pandemic brought with it a serious disruptions to the economy. While, it seemed that the recovery was in full swing towards the second half of 2021, the Russian invasion of Ukraine has sent markets spinning.
Inflation has reached levels not seen in decades and energy prices, in particular, have surged. In part, these dramatic increases are a result of import bans Congress has implemented on Russian energy resources. To offset the “Putin price hike,” as many Democrats are referring to the sudden increase in fuel prices, various leaders have proposed a gasoline stimulus check and other rebates. The bill, the “Gas Rebate Act of 2022″ was introduced by Democratic representatives Mike Thompson, John Larson, and Lauren Underwood.
The proposal would provide a rebate worth $100 a month, plus $100 for each dependent, to each eligible households in the US through the end of the year. The rebate, however, would only be sent to households living in areas where the average price of the gallon is above $4.00. To be eligibile, married taxpayers filing jointly with must have an income lower than $150,000 a year, while the figure drops to $75,000 for single filers.
The bill has yet to be brought the floor for a vote but proposal has received support from many members.
Checks for inflation: which states will give them and when?
While, support for households may come from the federal levle, some states are not waiting. Leaders in states including that California, Georgia, Hawaii, Idaho Indiana, Maine, Minnesota, New Jersey, New Mexico, and New York have released proposals to support households in offsetting fuel costs.
The actions vary from gas stimulus checks and rebates to tax holidays on fuel.
A bill passed in New Mexico on 8 April “will automatically send $500 payments to single tax filers and $1,000 to joint filers.” No actions are needed to claim the payments.
The payments will be sent in July and August and no actions are needed to claim the payment. The passage of the bill came after Gov. Michelle Lujan Grisham had requested lawmakers return to the capital for a special session to provide relief as gas prices were soaring.
“I thank the Legislature for acting quickly and answering my call to deliver economic relief to New Mexicans, building on the half a billion dollars in tax relief that we enacted earlier this year to deliver up to $1,500 in household relief to over a million New Mexicans,” said the governor after the passage.
Additionally, Gov. Lujan Grisham announced that the public rail system in the state would be cutting its prices by seventy-five percent to help commuters. Currently, the state is working to attract more riders after finding that use levels are hovering at around sixty percent of what was tracked before the pre-pandemic. In response Terry Doyle the Director of Rio Metro Regional Transit District said, “now with more people returning to work and gas prices at an all-time high, we’re hoping that this reduced fare promotion encourages many to get back on the train, and also attracts those who have never commuted by rail to give it a try.”
In the Golden State, Gov. Gavin Newsom released a proposal that would call for the sending of $400 checks to households with vehicles registered with the state. There would be a two car maximum per household, but there are no income requirements. Should the bill pass, the checks could be sent as soon as July.