Finally some good news out of Congress. I have a bunch of different updates for you on this topic, stay connected with us so I can keep you updated with all this information that continues changing very rapidly right now as my commitment to you and this community as a whole is to be here for you as your one and only daily advocate each and every day with all the latest details and to help you out in any way that I possibly can. So again, thank you so much for visiting our site.
All right. So like I said, I do have a bunch of different updates here for you. So let’s buzz through these one at a time. All right, so first off, let’s quickly talk about this one. Kind of interesting.
But remember about a week ago I was out in a video and said that last year alone in 2021, lawmakers traded $355,000,000 worth of stock. Well, they’re also making a boatload of money on all of these trades simply because they know information before the vast majority of the public, therefore, they can front-run the positions. In other words, getting in before the vast majority of people do, therefore making a ton of money as the rest of the people jump in and start driving up the stock prices. Well, at the time, Nancy Pelosi didn’t think there was anything wrong with that and she was not too excited about implementing bans on lawmakers actually trading stock. Well, get this much now, Nancy Pelosi is all about implementing a ban for lawmakers about trading stock.
In fact, they’re working on the legislation for that right now and it’s going to be implemented sometime between now and the midterm elections. Very interesting timing of the introduction of that ban, right? Yeah. So I’ll keep you posted on that. But anyway, kind of interesting shift here over the last week or so since this whole thing came out.
So of course, I’ll keep you posted as we get more details. Also, let’s quickly talk about a new bill that is being introduced by Congressman Madison Cathorn. I hope I’m pronouncing that correctly. But anyway, he is introducing term limits on lawmakers. So it would be a total of twelve years between the House and the Senate.
So basically, you come in, do your work for twelve years if you can’t get something done. Basically, he’s saying get out of here. Right. We don’t want to have you in Congress anyway. If you can’t get your work done within twelve years, if you can’t make an impact within twelve years, you’ve got to hit the road.
So I know, I’ve seen it down in the comments section a number of different times over the last year, year and a half, two years now, I’ve seen a lot of you writing comments down below saying they need to implement term limits. These people need to get in, do their work, do something substantial, and hit the road because honestly, they’re just hanging around for way too long and they need to get out of there. Right. So again, this is something that Congressman Madison Kathorn is. Kathorn.
Yeah, sorry. I think I’m pronouncing that correctly is introducing. So, again, this is going to be a little bit difficult to actually implement. But I will keep you posted as we do get more details. And I know that a lot of you would probably be very excited to see that because I know that some people are getting a little bit irritated and a little frustrated with some of the lawmakers in there right now who are just hanging around, maybe not doing a whole lot.
Right. Again, it comes from both sides. Pretty much everybody. It’s not me taking sides at all. I think all of us can probably agree there’s plenty of people hanging around right now that should probably get the boot to the curb, right?
Yeah. Let’s be real with ourselves. All right. Let’s talk about one more program here as well. And then we’ll get into some more bigger things.
Now, again, this is not going to impact everybody. But I do want to mention this because this is just coming out right now. So in the state of New York, if you’re there, they just approved $64 million to help out struggling residents of the state of New York. Now, this is also for those low-income and struggling elderly and seniors. So if you’re in the state of New York, you might want to check this out because they’re going to be starting to pump this money out this month, as well as March and April.
They are going to be pumping some of this money out. $64 million will be going out to help out people with food and all kinds of different things. So like, big one-time payments are going out in the state of New York to about 26,200 households and families. So you might want to check that out. If you’re in New York, you might actually get some of that.
And from what it looks like, that money would automatically be deposited onto your EBT card. Right. Electronic balance transfer card. So again, check that out. If you’re in New York, $64 million up for grabs.
All right. Let’s quickly talk about something else that just came out about noon today in Congress. Now, remember the other day of the last couple of days here we’ve been talking about the federal spending bill, as in to keep the government-funded. Right. They keep kicking the can down the road with these short-term spending bills.
They continue resolution stopgap bills. They’re doing all this stuff. In fact, yesterday evening or like early evening, they passed a three-week short-term spending bill to keep the government funded up until March 11 of this year. Well, just about noon today, they announced that they’ve come together on a longer-term bill. So they’re putting up the finishing touches on that thing, which will finally actually get them through the rest of the fiscal year, which is the end of September 30.
So that’s actually pretty good. And of course, I’ll keep you posted. Also, let’s quickly talk about this one, because this is a new bill. This is being floated around right now, and this one actually could be kind of good. Again, it’s not going to be huge, but it’s actually kind of good.
And that is they’re introducing a bill to repeal the federal gas tax, which is 18.4 cents, not percent 18.4 cents per gallon of gas. And it’s being floated around right now to repeal that actual gas tax through the rest of 2022 because so many people are struggling right now and gas prices continue to move higher. So that would remove that gas tax and actually lower the gas price by about 18.4 or just call it about $0.20 per gallon through the rest of 2022. So that’s actually pretty encouraging right there. As of right now, by the way, I just noticed this.
The national average for one gallon of gas is three-point $47 according to AAA. So that’s up right now. In fact, the last high or the last record that we saw for one gallon of gas was three-point $42. And that was way back a number of years ago. I want to be honest with you.
I don’t remember the number of years ago. I think I think it was 2014. I talked about it maybe three, four or five days ago, something like that. Maybe a week ago I talked about it. But anyway, that was previously the record for the national average.
So we’ve officially exceeded it $3.47 as of right now is what they’re saying. So very interesting. Right. But if they repeal this gas tax, they might be wondering how are they going to make up the money were they going to get the money from apparently the treasury is going to make up the difference for this repeal of the tax if they actually do pass this through. But according to what the experts are saying, The Economist, the analysts, everybody’s saying right now they’re continuing to say that gas will likely be hitting $100 per oil.
I should say oil will be hitting $100 per bail barrel, which will ultimately translate right into higher gas prices at the end of the day. So, yes, it might lower gas prices by calling it 18 to 20 gallon, but at the same time, it looks like it’s just going to be continuing to move much, much higher throughout the rest of the year anyway. So finally, a little bit of good news out of Congress here. A few different things that are being proposed, a few different pieces of legislation, some bills, things like that. Finally, some good stuff because realistically, let’s be real right now.
There hasn’t been a whole lot of encouraging things coming out of Congress lately, right? A lot of talk and a whole lot of no action. So anyway, there’s a little bit of good stuff that I found today so I’ll be back a little bit later with another update and let you know what’s going on. So I hope this one helps you out. Thanks again for visiting our site.
Enjoy your day. I’ll catch you in later here in the next one.