Stimulus Check Update 2022: White House Looking to Send More Money?

Multiple news agencies on Friday stated that the Biden administration has recently mulled over a new stimulus plan of mailing Americans rebate cards to assist offset the rising price of gasoline. The Washington Post wrote that senior White House aides had lately reviewed a plan to issue petrol rebate cards to U.S. households after the administration opted against the action months earlier.

Fox Business also reported an unnamed person that the Biden administration was contemplating the refund cards, while the Post noted there are obstacles holding up the concept. One sticking point is that officials are apparently afraid that people might use the cards for expenditures for products other than gas. The other is that recent shortages in the chip industry may cause a barrier in physically creating the cards.

CNN also reported an official close to the situation as saying that administering the cards and suspicion about how the money would be spent are the biggest challenges now blocking the scheme from being greenlit. There is also apparently assumed that Republicans in Congress would not sign off on such a stimulus measure.

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Officials in President Joe Biden’s administration have allegedly explored issuing Americans gas rebate cards in recent days. Above, Biden talks during a virtual Major Economies Forum on Energy and Climate in the Eisenhower Executive Office Building on June 17 in Washington, D.C.

Another issue with stimulus checks is that they have been recognized as one of the contributing contributors to the current surging inflation. Financial analysts have blamed an influx of stimulus funding for producing an imbalance in supply and demand, because the number of items available do not currently fulfill the desires of Americans eager to spend more.

In an attempt to better balance the supply and demand ratio, the Federal Reserve on Wednesday announced its highest interest rate raise in 28 years. This strategy was done to make consumers spend less because of the higher charges. Americans having extra stimulus money to spend could potentially operate against this rationale.

Stimulus Check Update white house
Stimulus Check Update white house

In March, Axios claimed the White House examined gas cards but scrapped the concept. The site cited an unnamed aide as saying even some House Democrats have expressed objection to the proposal. Other grounds for not pursuing the concept at that time included not wanting to over-extend the IRS, who would be accountable for the distribution, and concern it would aggravate inflation.

As of Friday, the national average price for a gallon of standard gas was $5, according to the American Automobile Association (AAA). Earlier this week, AAA recorded the highest figure ever for normal gas at $5.016. By comparison, the average price was $3.075 at this time last year.

Recent studies show Americans are feeling annoyed by spending more at the pump, and Democrats may face the brunt of their displeasure. A poll conducted last week from The Washington Post and George Mason University’s Schar School indicated that roughly 44 percent of U.S. drivers reported they have just half filled their vehicle gas tank due of rising gas prices.

Meanwhile, an ABC News/Ipsos poll released earlier this month indicated that 74 percent of U.S. adults say gas prices will be a “very” or “very” important influence in how they will vote during the fall’s congressional midterm elections. Stay tuned with us only on leedaily.com

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