With federal stimulus checks drying up, it is up to the states to support their residents as the economic downturn that was triggered by the pandemic continues to hurt Americans. The inflation is the highest in over 5 decades.
Many states are utilizing their budget surplus funds and federal pandemic funds to help sections of the population most in need.
Many residents of Chicago will receive a gas stimulus card while many others will get a transit card loaded with a certain amount. Around d50,000 residents are set to receive this stimulus check through a lucky draw.
One person from each household can come forward for this stimulus check, and these eligible entrants will qualify for the draw.
Eligible applicants must be Chicago residents, over 18 years old, and have the latest valid sticker that gives the correct mailing address for the vehicle.
Such applicants must also have an income that is 140% or below the Chicago median income.
$5M has been set aside for this public transit support. Around 100,000 transit cards will be distributed by the authorities or value-added to existing cards to be used for transit, with the total amount expected to be $50 each.
Applicants for the transit card must be Chicago residents and have a similar range of household income, equal to 140% or below the median income of Chicago.
Proposal To Tax Big Oil Companies To Fund Stimulus Check
Sheldon Whitehouse, Senator from Rhode Island, and Rep Ro Khanna from California of the Democratic Party have proposed the Windfall Profits Tax targeting big oil companies. Under this proposal, citizens with low incomes will receive this gas stimulus check.
This bill is proposed to be funded through a levy on each barrel produced by oil majors that will be equal to half the variance between the present price per oil barrel and the average barrel price before the pandemic between 2015-19.
While the authorities of San Francisco have indicated that stimulus checks are a reason behind the inflation, research has not conclusively indicated that stimulus checks have a negative effect on the economy in the long run.
