Home Finance Rising Gas Prices Possess Severe Influence On Stimulus Payments – Report

Rising Gas Prices Possess Severe Influence On Stimulus Payments – Report

There have been rumblings of a fourth incentive check for months, but no effort has been made. Despite a historic 3 million responses on a Change.org petition in support of providing American citizens $2,000 per month in stimulus funds, there is no fourth stimulus.

Will the president’s plan to offer Americans such a fourth stimulus check be prompted by increasing gas prices?
Since Russia invaded Ukraine, gasoline prices have been going up. As they manage financial and economic turmoil, Americans want assistance. Many people seem to believe that the stimulus money has run out. Americans who met the criteria received three waves of stimulus checks, and that’s it.

Stimulus Management Strategies

Some say just one booster payment improved the economy, whereas others say they didn’t. As a result, these states developed their own stimulus management strategies. Some states, like these, are getting creative and creating their own incentive checks for citizens.

The following are some of them:

Pay raises for local employees, Bonuses for persons who re-enter the workforce, Young families with kids are given money. People who are now unemployed will receive bonuses, and those who went back to work even during the outbreak will receive thank you payments. In addition, bonuses to persons who applied for the Earned Income Tax Credit in 2019, one-time incentives to front-line personnel, and one-time jobless incentives to ones who’ve lost their job even during an outbreak are also factored in.

As the poor socio-economic backgrounds revive, inflation rises, and employees return to their workplaces after decades of employment remotely, Americans’ finances are being stretched, reports Cobble Hill Blog.

Rising Gas Prices

Gas prices in the United States have risen due to the impact of Russia’s intrusion of Ukraine and the consequent sanctions imposed on Vladimir Putin’s government.

Indeed, gas prices topped four dollars per gallon for the first time in several years. The old record was reached in 2008 at $4.103 per gallon, but a new high of $4.104 has been set. Despite this, oil prices continue to decrease. Following the rise created by Russia’s incursion of Ukraine, the price of oil has dropped by 30% over the last week.

Meanwhile, California Democrat state senators have proposed that people receive a $400 tax refund check to assist with the rising costs of everyday items like gas.


Please enter your comment!
Please enter your name here