$1000 stimulus check for everyone. I have all the details for you on this topic. Right now I’m watching everything closely and breaking it down into these shorts topics so that you can get all the latest updates and information hot off the wire as this information is being released.
All right, you know that over the last three or four weeks or so, we’ve seen multiple different proposals hitting the table, talking about stimulus checks, quarterly stimulus checks, monthly stimulus checks, vouchers, gas cards, rebate checks, tax credits, all kinds of different things to help out struggling Americans right now, which is actually a really good thing to see all of these different proposals and ideas, because once again, Congress is warming up to the idea of sending out either a one-time lump sum stimulus check, monthly checks, quarterly checks, rebate cards, voucher cards, all of these different things. So they’re playing around with a lot of different ideas, which again like I’ve said in previous videos, I want to continue to encourage them to play around with all these ideas because ultimately if they do, it’s only a matter of time until they actually come together and say, hey, I had a Brainiac idea. Let’s do it.
So I feel like, hey, if you guys want to do that, by all means, please send us some money. Whether it’s in the form of monthly checks, a one-time check, voucher cards, we don’t really care. Just get us some money into our possession. Right. So I really want to encourage Congress to continue doing this.
However, there is another one of these proposals that came out recently that I want to talk to because honestly, this one is looking pretty good as well, and it is looking pretty promising. Just like most of the proposals out there, a lot of them have basically been introduced and kind of fallen by the wayside and didn’t really get any traction. However, this one here I do want to talk about because this one is actually looking pretty good. Now, a couple of days ago, I was out on a separate topic talking about another proposal that also has some traction behind it. But that one is for very small monthly checks, right?
That one is the Gas Rebate Act of 2022. Well, that one looks pretty good. However, that is the small $100 checks on an ongoing monthly basis. But this other one that I want to talk about here is for a $1,000.01 time stimulus check for everyone. Yeah, I mean, everybody.
So I want to talk through the details on this one because this one is also looking pretty good. And as Nancy Pelosi also did confirm just a couple of days ago, she did say in her weekly press briefing as she was talking to the press and reporters were asking her questions, she did indicate that Congress is working on some ideas to get checks out into the possession of the people. So pretty encouraging stuff. Nancy Pelosi confirmed it right there. So I do want to talk through some of these details.
By the way, one of the other things that we’ve been seeing thrown around as well is the suspension of the federal gas tax and state gas taxes. Well, that’s probably not something that’s going to be happening on a wide scale, actually happening on a wide scale, simply because, well, first off, they don’t really want to repeal the tax because that’s their revenue. Remember, they want to bring revenues in. Well, repealing a tax kind of cuts off their revenue sources. Right.
Also, Nancy Pelosi, a couple of days ago when she was out in that same press briefing, said, no, they’re not repealing the gas tax. So she basically said it is a nonstarter. So it’s interesting. They want to send out cash, but they don’t want to repeal the gas tax. So I don’t know, figure that one out.
Right. So anyway, let me talk to you. This new proposal now, this one is actually being introduced by a Democratic congressman named Josh Harder. Now, he is out of California, but this proposal is not just for California. It is for the entire country.
So everybody you could be living in Tennessee, Kentucky, Florida, Texas, Maine, New York. It doesn’t matter just because it is out of this California congressman. He’s just the guy introducing this. So I want to put this out there for you and let you know what’s actually going on with this. So this one is actually called and now get this.
This is the name of it. Putting Gas Money Back in Your Pocket Act. Yeah, that’s the name of this one. Putting Gas Money Back in Your Pocket Act. I guess I never really thought a bill would be called that, but yes, that is the name of this bill.
So let me talk you through the details on this. So basically, he’s making it really straight to the point and super simple to understand, which is really nice, because a lot of times these bills and proposals have a lot of weird provisions about them. They have a lot of weird rules. This one is actually pretty straightforward, which I really appreciate about this one. Here’s what it comes down to. He wants to send out a $500 check for an individual, a $1,000 check for a married couple, and anybody aged 16 or older who is a driver, another $500. So here’s the deal. Basically, he said it’s going to go out to everybody and pretty much 16 and older, you’re pretty much going to get a check. Now, there was also the question being, is there going to be an income cap on this? And Josh Hartley said no Incap on this, So essentially everybody would be getting these payments. Now, he also indicated that these payments would be going out within 30 days after the bill is passed. Again, I like it. It’s maybe still a little bit of a slow delivery, but at the same time, 30 days within the passing of the bill is still pretty reasonable, right? Of course, we want it to be out much faster than that.
But ultimately basically just get it out as quickly as possible. And he said that right there, within 30 days of the passing of the bill, again, these payments would be going out to the people. So this is in regards to higher gas prices. Now, you might be thinking, oh, great, another check where we have to go and spend money on gas. No, according to my understanding of this, it is getting sorry, the name of it.
Again, Putting Gas Money Back in Your Pocket Act essentially says they want to give you some cash and you can spend it on essentially whatever you want. Now, don’t quote me on that. This was not exactly specified. But my understanding of this, as I read through all the details on this proposal from Josh Harder, it looks like it is essentially just a check that you can spend on whatever you want. It doesn’t really matter.
You can go out and buy clothes with it. You can put food in your pantry. You can put gas in your car. You can do whatever you want with it. It looks like it does not matter what this money is spent on, but rather it is just a check to help you out because of elevated gas prices right now.
And essentially they’re saying, well, everybody is going to be getting this check. So pretty cool stuff right here. According to what I was reading about this as well, based on what it sounds like, it might sound like it might be for those people who are just driving to me, according to what it looks like, it essentially says anybody over the age of 16, even if you’re just here and you don’t have any income. Again, it did not say anything about income as far as lower side income limits, as far as upper side income limits, nothing. He basically said everybody would be getting a check.
So it’s pretty widespread, as you can see here. Now, again, there may be probably some a little bit of restrictions put on to this proposal as it works its way through Congress. Because here’s the thing, having no income thresholds is probably not completely responsible because here’s the thing, does somebody earning, say $150,000 a year or 200 grand a year, something like this, do they really need a $500 or $1,000 check? Probably not. They probably don’t need that, of course.
Do they want it? Well, yeah. Who wants to deny a $500 or $1,000 check? Pretty much everybody would want the money. Right.
But the deal is the higher income people, they really don’t need it. People that are earning a couple of hundred thousand dollars a year, they probably don’t need a $500 or $1,000 check as an individual or a married couple. Right. So therefore, they’ll probably be some kind of income limits. And now, again, what about the people out there making, I don’t know, 500,500, sorry, like 5 million, 10 million.
There are people out there that make that much money a year? Yeah, there’s not that many, but there are a few people. Do they really need a $1,000 check? Honestly, they probably couldn’t care less about $1,000. So like I said, as this thing works its way through Congress, I could probably foresee some kind of income caps being put on to this thing simply because they just don’t need it.
The higher income people simply don’t need it. They would really need to focus this on the middle income and the lower income people. So again, just another way out there where another congressman is coming out saying this is a great way to get money into the pockets of the people right now, and we’re going to use higher gas prices as our excuse to figure out why or to basically justify why we want to get this money into the pockets of the people. Right. So I like it.
It’s a pretty cool proposal. It’s a nice one. Like I said, this one is probably just along with that other one, the Gas Rebate Act of 2022. That one is also looking pretty promising, but that one is for those monthly checks of $100 ongoing for a monthly basis. But again, would you rather have a $100 check ongoing provided gas is over $4 a gallon?
So $100 a month or would you rather take $500 or $1,000 upfront just one time? I think a lot of people would probably go for the lump sum payment. I don’t know, just my assumption, but I feel like it’d be a lot more beneficial to get a lot of money into your pocket very quickly versus $100 a month. But again, $100 a month or $1,000 at one time. It’s all going to be helpful eventually.
But the deal is if you’re going to be getting $1,000 from this putting gas money back in your pocket act, it’s going to take you ten months to get that in the form of monthly checks at a rate of $100 a month. Right. Ten months. So you can kind of see here which 1 may be a little bit more beneficial upfront. It’s probably the lump sum payment.
Either way. These are a couple of proposals that are out there now, and both of these, honestly are looking pretty good. And I’m curious to see what Nancy Pelosi and the crew come out with you over the coming days here as Congress will be back in session.
And I’m kind of curious what they’re going to come up with simply because Nancy Pelosi did indicate that Congress and lawmakers are working on some kind of proposals and introductions here to get money or rebate checks or some kind of basically just essentially money into the pockets of the people going forward in the form of either monthly checks or this one time payment, stimulus checks, whatever they happen to call it. It’s all essentially money at the end of the day into your pocket. So I’m kind of curious about it. But this is another one out there recently introduced by a Democratic congressman, Josh Harder, and hopefully, we can get some traction on this one as well. But either way, I do think it’s only a matter of time until Congress does come up with something, whether it’s really good and we’re all happy with it or whether it’s just something that’s very small.
I do think Congress will still come up with something. Again, not really sure what that’s going to be quite yet, but they are apparently working on something. And as we do get more details, of course, I’ll be right back here for you breaking it all down. But anyway, this is the update that I have for you as of right now, as I do get more details, I’ll be here for you Helping you out in any way that I can.
Share this topic with your friends, family, social media
They came out really strong. They sounded really good initially, but a lot of these ideas have been dismissed as of recently. So I wouldn’t really count on the vast majority of these actually happening. But there are a couple here that look pretty good, like these two that I talked about right here in this topic. I do think these are by far the two most promising proposals that are out there right now.
Will they for surely happen? Well, we can’t guarantee anything. I wouldn’t pretty much bet anything on Congress at this point Because they say a lot of things, but then they don’t have A whole lot of action to follow through with it. So time will be the only thing that tells what actually comes out of Congress. And if they do approve anything for the low income and the fixed income as well as just like this proposal here, Essentially everybody would be getting a check under this proposal.
So it’s pretty cool, it’s pretty exciting, it’s encouraging. But at the end of the day, all we can do is wait and hope that Congress comes together on something for the people who are struggling so badly right now. Even though a much larger check and even monthly checks in a much larger amount than $100 Is very much needed right now, at the end of the day, something is certainly better than nothing. So anyway, as I get more information, of course, I’ll bring it to you on this topic again to enjoy your day. Stay safe out there and I’ll see you again later in the next update.