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Stimulus: Does the White House plan on sending out more checks?

There have been plenty of rumors that the Joe Biden is planning to send out a prepaid gas card stimulus.

stimulus

However, the prepaid gas cards and/or more federal stimulus payments are fairly unlikely.


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So, no stimulus?

At one point, President Joe Biden was considering the distribution of a prepaid gas stimulus card to help Americans combat the cost of inflation. After realizing there is no way to ensure the money would be spend on gas, and the chip production shortage, the plan was never signed.

Another issue with the distribution of stimulus checks is the current rate of inflation. Some argue that the past stimulus payments have contributed up to 3% of the inflation today.

The gas cards would likely drive the price of gas up even higher, simply because of supply and demand. Right now there is a limited supply on gas, due partly to the sanctions on Russia. If more people have the money to buy gas more people will buy it– increasing demand. However, the gas supply is limited and more expensive, so the price you pay at the pump will reflect that.

The likely will not be another stimulus anytime soon, despite gas prices breaking $5 per gallon.

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