Proposed Gas Rebate – The idea of gas reward cards has been debated in Washington for a while and has potential to provide consumers with financial relief especially since the price of gasoline climbed to $5 per gallon this week. However, a White House official says the Biden administration will not push for a program like this, since it’s difficult to administer and require Congressional approval. A gas rebate card may offer a quick fix however there are a number of difficulties that need addressed before it becomes the norm for American consumers.
Proposed Gas Rebate from Federal Government
The federal government has not adopted the Gas Rebate Act of 2022 yet, but it is currently considering an idea, and some states and cities have already passed legislation to support it. Inflation rebates are intended to assist citizens in coping increased costs. Though they are not federal programs, many of these rebates can be issued through state governments who have surplus funds. The federal government should think about such a program as a way to tackle the high cost of gasoline as well as other products.
Certain states have tried to reduce their gas tax and are now considering offering rebates or refunds to their residents. Some states, like New York, are considering cutting the gas taxes completely or offering a small rebate. Governor Bloomberg has also proposed tax cuts for renters or homeowners who pay for gas at or above thresholds of federal minimum. He’s even proposed cutting the gas tax by half when the price of fuel that is not leaded reaches $4.51 per gallon in summer. Some politicians in New York state have also advocated for the removal of the state gas tax, which is 33.3 cents per gallon.
They are not available in all states
While the federal government has not trying to put together any type of stimulus plan State lawmakers and President Biden are putting forward various plans for consumers. This includes a three-month gasoline tax break. As of late June there was nothing concrete being examined by Congress. It could be a while before gas rebates begin being distributed to every state. The President has made a proposal for the idea of a national holiday for gas taxes and has not yet found any viable legislation to fund it.
However, regardless of the political implications of the idea, gas rebate cards are one of many ways to help Americans deal with the expense of gasoline. However, they’ve had to face some opposition. A couple of months ago, House Democratic counsel panned the proposal, concluding that it would create inflation, was too costly, as well as not being targeted properly enough. Before, higher-up White House aides raised concerns about the rebate card because of the dearth of microchips.