Gas Stimulus Check Release Date
It seems that everything is much more expensive these days, right? Yes, that’s because it is. With inflation at the highest level we’ve seen in 41 years, one of the things that tops the list of “costs more than normal” is gasoline. Paying for gas just to run and back is burning a hole in the pockets of Americans day in and day out.
Everyone is trying to figure out how to keep gas prices in check, and one of the options on the table to beat those high gas prices is something called a gas stimulus check. What do you say now? Yes, today there is a stimulus check for almost everything, even gas apparently. But will this kind of gas discount really happen? This is what we know so far.
What is a gas stimulus check?
It’s basically just a gas rebate check to help drivers pay for high gas costs. Remember those stimulus checks from the pandemic era? That’s a bit like that, but for gas prices. There has been talk of gas stimulus checks at the federal level with something called the Gas Rebate Act of 2022, but be warned, nothing has passed here yet. Let’s dig into this a bit more. . .
The Gas Rebate Act of 2022
The Gas Rebate Act of 2022 is legislation that would provide a $100 monthly rebate (and $100 for each employee) to help Americans pay for high gas prices.1 The idea is that the payments would continue to Throughout 2022 during any month when the national average Gas price is $4 or more (such as right now).
Democrats have been talking about the 2022 Gas Rebate Act for most of 2022, but not much has happened so far, virtually nothing. So before you head to the pump hoping to fill up on Uncle Sam’s change, keep that in mind. However, we are all familiar with the government’s history of implementing stimulus checks. . . then there is that. Stay tuned and we’ll let you know if the Gas Rebate Act of 2022 picks up speed.
Who would qualify for a gas stimulus check?
Here’s the rundown: At the federal level, gas stimulus checks would be awarded to people earning $75,000 or less and those with a combined income of $150,000 or less.2 So, like other stimulus checks, must meet qualifying income requirements.
Now, anyone making more than those income limits would still receive a gas stimulus check, but for a smaller amount. And there is also a limit to this. The gas stimulus check would not apply to individuals earning $80,000 or more or joint custodians earning $160,000 or more.3
And let’s say you probably need a driver’s license or even have a car, just a hunch. Sorry, your child’s bike and scooter do not count here.
What is the difference between a gas stimulus check and rebate checks?
Good question. A gas stimulus allowance is a one-time allowance distributed based on income level. On the other hand, an inflation refund check (or inflation stimulus check) is different. Inflation stimulus checks are relief funds set aside to help taxpayers cope with the high costs of goods and gasoline (thanks to inflation). Until now, they have been distributed at the state level and the money comes from state budget surpluses (which is basically money left over from their spending budgets for the year).
Yes, it is practically transparent like mud. With all this talk of incentives and discounts, who can keep everything in its place?
Which states and cities are handing out gas stimulus checks?
Although the federal government has not passed the Gas Rebate Act of 2022, some states (and cities) are considering issuing their own gas stimulus checks. The list isn’t long, but here’s who has jumped on the bandwagon so far to help people save money on gas with discounts.
California tried to make its own version of a gas stimulus. Gov. Gavin Newsom wanted every California family with a registered car to receive a $400 gas debit card. But that plan fell through, and the state is compromised by suspending the gas tax on diesel fuel and handing out gas checks. inflation relief of $1,050.4.5
Illinois (Chicago only)
Windy City is taking matters into its own hands and handing out its own version of gas stimulus checks in the form of prepaid gas cards. The city has 50,000 prepaid gas cards from $150 and 100,000 $50 prepaid transit cards up for grabs.6 But here’s one exception: It’s all luck. Anyone interested should apply on the Chicago Moves website for a chance to be selected.
There is a proposal on the table in North Carolina that would give $200 to every driver in the Tar Heel State. Residents must be at least 18 years old and have a driver’s license (see figure) .7
Don’t see your state listed? Check out our other list to see if your state has a gas tax exemption. And here’s some pro advice: You really don’t need a gas stimulus allowance or a gas tax exemption if you want to start seeing more money in your pocket. . .
Forget a Gas Stimulus Control—Give Yourself a Boost
Waiting for a gas stimulus check? Here’s an idea: don’t wait for the federal (or state) government to give you a check. It’s time to help by creating a monthly budget. Simple as that.
The truth is that most people don’t know where their money is going each month. But having a budget will show you exactly what you’re spending your hard-earned money on each month so you know where to cut back. Even better? People say that having a budget like EveryDollar gives them freedom and makes them feel like they got a raise too. And that’s a lot more than can be said for a pesky one-time gas stimulus check, right?