Gas prices are no joke right now, but there's a possibility of gas stimulus checks on the table for Coloradans.
According to a press release from Rep. Mike Thompson (CA-05), the Gas Rebate Act of 2022 has been introduced to legislation to help alleviate the pain we're feeling at the pump.
Colorado Gas Prices
Currently in Colorado, gas prices are sitting below the national average of 4.252 by 29 cents at 3.956, according to a report by AAA.
While we may be below the national average, that doesn't mean that we're not feeling the same pain in our pockets.
Will Coloradans Receive A Gas Rebate?
The energy rebate of $100 per month (and $100 for each dependent) will apply for the rest of 2022 in any month where the national average gas prices exceed $4.00 per gallon.
So even though Coloradans are paying less than the national average, we should still be eligible to receive the gas rebate, as long as the national average gas prices remain above $4 a gallon.
Colorado Gas Rebate Breakdown
The rebate follows the same phaseout as the most recent Economic Impact Payments (EIPs):
- $100 for single filers earning less than $75,000 and phased out to $80,000
- $100 for joint filers earning more less than $150,000 and phased out at $160,000
Why Coloradans and Americans Need the Gas Rebate
“Americans are feeling the impact at the pump of Vladimir Putin’s illegal invasion of Ukraine, and right now we must work together on commonsense policy solutions to ease the financial burden that my constituents are feeling,” said Thompson.
The Putin Price Hike is putting strain on our economy, and I am proud to be working with Reps. Larson and Underwood to introduce this legislation to provide middle-class Americans with monthly payments to ease the financial burden of this global crises.
Fingers crossed that this legislation is approved because Coloradans know that driving through these mountains can quickly guzzle up your gas.