Yes, money and checks for the low income. With some additional announcements coming this week. I have all the details, what you need to know, and what we need to read for right here on the topic. This is getting to be pretty encouraging as we’re now getting some more information on additional money and or checks specifically focused on the low income.
So, in this topic, I do want to talk through the latest details, all the new information that we’ve recently received, as well as what we need to watch for this week and any additional money checks or anything else specifically focused on the low income. I am your one and only daily advocate as I’m doing research all day, each and every day, bringing it all back and breaking it down into these short topics so that you can stay tuned and updated with what is actually going on right now during this very busy time, especially as we’re getting all these new detail on money benefits, checks, stimulus, raises to benefits, ongoing monthly checks, new bills, new piece of legislation, all kinds of programs. There’s a lot going on out there right now, especially for the low-income and virtually all Americans that are struggling right here, right now.
So I have all those details for you here in these daily topics. All right, so like I said, we will be getting more details on this throughout the week. However, let me bring up to speed because some new information was released on this and there’s additional information floating around as far as what this could potentially look like as far as money going out for the low income. All right, so first off, as far as low income as is identified, they haven’t really identified where the parameters would be for low income.
However, let me throw this out there just as kind of a reference point and kind of some guidelines as far as where we currently sat with some of these other payments that have gone out in the last two and a half years or so. Generally, they basically say anybody with an income under $75,000 as an individual or $150,000 as a married couple would generally be included for these payments. So again, that’s what it’s been over the last two and a half years with the other stimulus checks. So I would anticipate that’s probably what it’s going to be. Again, maybe it’s lower than that, but at the end of the day, it’s probably going to encompass a lot of people.
Okay, so that’s just what I want to throw at the really quickly, even though they have not officially identified who would potentially be eligible for this, but they’re basically saying the lower income people, which those are kind of the parameters that they’ve had before. So I’d imagine they’re probably going to run with something very similar to that. Again. All right, so let me tell you the details about this. So as I mentioned in one of the topics yesterday, president Biden was out yesterday saying that he’s going to be coming out by the end of this week, sometime between now and the end of the week.
So just a couple more days here and with a decision on repealing the federal gas tax. Now, this is only a little over eighteen cents per gallon, which again, like I said in the topic yesterday, basically they’re stepping over dollars to pick up pennies. It doesn’t really make a whole lot of logical sense. Yes, it would be nice at the end of the day to repeal that tax and certainly save some people a little bit of money every time you fill up your vehicle, but we need something bigger. Well, that’s kind of where step number two comes in.
President also did indicate that there may be the talk and as far as additional details on these cards going out to Americans to get gas. So I talked about this a couple of days ago as it was recently announced, like late last week, we got the official details on this as the administration is talking about sending out these prepaid cards for Americans to go out and buy gas. Now, here’s the thing, let me lay this out for you really quickly, and then I’ll tell you the latest details as far as what people are now currently saying about these cards. All right? So number one, I mentioned this, by the way, in the other topic, but I just wanted to lay this out there really quickly, just in case you didn’t see that other topic.
Here’s what it comes down to. Number one is they’re kind of concerned is because they can’t really govern how this money is going to be spent, they want it to be spent on gas. The problem is many people are coming out and saying, if you have all these people with these gas cards, this is going to drive the price of gas significantly higher because it’s going to increase demand, right? All of a sudden everybody has extra money to go buy gas, therefore it’s going to drive up demand. It wouldn’t be necessarily the best solution to make it specifically focused on gas.
Therefore, the people that are actually in support of this and coming out with these cards are saying it’s good to have a gas card, but at the end of the day, don’t have it strictly focused on gas because that’s just going to drive the price significantly higher. A ton of demand will flood into the market at that point because everybody all suddenly has a bunch of money to spend on gas, right? So that’s reason number one. And reason number two is the chip shortages. Right?
We covered that in a previous topic as well. All right, so these are some of the ideas as far as what they’re talking about with these cards. However, now the ideas and the, again, speculation, some of the talk out there right now is that potentially, rather than it being a card, why wouldn’t we just send everybody a little stipend into their bank account? Why wouldn’t we just wire people or send money to people into their bank accounts just like they did with the other stimulus checks? Now, the thing is, I want to be very clear about this, that we’re all on the same page.
They did not really necessarily identify a dollar amount. I’m just going to say this much, highly doubt it’s going to be $400. So this would not technically be a stimulus check, but rather it would be more like a gas relief. I don’t know, I feel like I should be on one of these commercials now. Right, sorry.
My point is it’s probably going to be more for spending on gas or whatever they happen to name it, I’m not really sure. But technically this would not be like a stimulus check like what we’ve received here over the last couple of years, the last two and a half years, but rather this would be focused on helping people with inflationary pressures. Right. So when you’re feeling a little inflated, we’re getting some gas relief here, right? Yeah.
Oh, man, this is going off the wrong end of the spectrum here. I’m not trying to take this down the wrong road here. My point is it’s basically what it’s revolving around is trying to get some relief to people because of elevated gas prices. As of yesterday, the national average for gas was four-point $98 per gallon. So it’s only come down about $0.03 from the all-time high record, which was a little over $5 a gallon.
$5 and a penny was the highest that I saw it, by the way, on a nationwide level. So anyway, the whole idea behind this right now is to get money out into the pockets of the people. And again is they wanted to do it to help people out with filling their vehicles with gas. But at the end of the day, does it really matter where the money is spent? And again, that was one of the major concerns, is that we don’t know people are actually spending it on gas.
Well, a lot of people are also saying we don’t really want everybody to go out and spend it on gas right away because that’s just going to drive the price significantly higher as I mentioned just a minute ago. So now the whole idea is maybe wish you to skip the cards because we’re dealing with this whole chip shortage. Forget the cards. Let’s just send out a stipend to everybody’s account like we did before or maybe even paper checks. At the end of the day, does it really matter how it gets there?
So they’re trying to figure out all these different ways. I’m not really sure why they need to invent a whole new system as far as sending out these payments. They’ve done it so many times before and Social Security and these other programs like this send out programs every single month with no problems at all. Tell the beneficiaries. So not really sure why they’re trying to come up with some brainiac idea, trying to figure out a new way to send out money.
I mean it’s so simple right now right? They know how to do it. They’ve done it many times here before. It’d be so easy just to repeat that same process but just maybe a smaller dollar amount doesn’t really matter, right? So this is the talk on the town as of right now and again the President will be out sometime this week.
He did not indicate exactly which day, but he did indicate he will be out well with the decision at least by the end of this week to determine what he’s going to do with the federal gas tax and then potentially even that final decision on these gas cards or gas payments, gas money, whatever we want to call it these days. There’s a lot of different moving parts. There’s a lot of different ideas as far as how this could actually be implemented and then of course this would be something that they would need to actually pass through Congress. But they actually have pretty much limited time here to get things through Congress. So whether they’re actually going to do it or not, congress is against the wall right now when it comes down to a timeline.
If they’re going to get something done it has to be relatively quickly here. So it does look pretty encouraging. Even the President is talking about this. The President is talking about this money going out to lower-income people, money in the form of gas cards or gas payments, whatever it happens to be. Again so it’s encouraging to consider.
The President is talking about this. They understand that they need a win right now and they need to do something for the people and this is just one of those things. So again I want to bring up to speed on this, let you know where we currently stand on this and what the President is talking about as well as with some of the other lawmakers and of course economists, the experts, the analysts, the people that are watching this closely. So I want to bring you these details and let you know what they are currently saying about this right now, but it might be looking a little bit promising here. We might be looking at potentially another payment.
I’ll say this much, though. It’s going to be a much smaller okay. It’s going to be a smaller payment. I don’t know what it’s going to be. I don’t know if it’s going to be $100, 200, 250, and $400. I honestly have no clue. Maybe it’s $50. I don’t really know because they did not indicate that. But they need to do something to make sure that it actually kind of gets the attention of the people.
If they send us $50, that’s almost going to be more of like an insult than it is going to be to be helpful, right? To think that all we need is $50 right now, you know what I’m saying? So they got to kind of thread the needle on this thing and make sure that it’s big enough to get our attention and to help us out. But then at the same time, they don’t want to break the bank at the same time and send out $100 billion or $500 billion worth of payments. I don’t think they’re trying to do that right now.
maybe at some point I don’t think they’re gonna go 500 billion there’s no way but maybe at some point they’ll be looking at you know much bigger payments going forward but again they got to thread the needle on that thing as well so anyway hope this one helps you out to give you a better understanding of what’s going on right now the details on all of this the talk about these checks one-time payments direct deposits. whatever it happens to be and of course, I’ll keep you posted on any additional information that we are getting going forward on gas relief payments right anyway had to throw that out there one more time. so again thanks so much for reading, share the topic and enjoy and I’ll catch you again later in the next update. bye