Stimulus Check 2022: Here's How Oregon Residents Could Receive $600 This Week

More than 200,000 Oregon workers might receive $600 payments as early as this week.

Oregon lawmakers authorized the one-time stimulus payments for low-income employees in March. The payments will be made to Oregonians who claimed the Earned Income Tax Credit in 2020, a tax benefit for low-income working households, and lived in the state for the last six months of that year.

Oregonians May Receive $600 Stimulus Check

The Oregon Department of Revenue said Wednesday that about $141.8 million would be distributed to 236,000 qualified households. Payments are only allowed once per household.

Approximately $82 million will be put directly into the bank accounts of qualifying individuals, while the remaining almost $60 million will be sent. Qualified applicants will get the payments no later than July 1, according to the state.

The state is paying for the stimulus payouts using federal pandemic money agreed by Congress last year. According to Rich Hoover, a representative for the Oregon Department of Revenue, the payments are not subject to state or federal income tax.

House Bill 4157 was enacted by substantial votes in both houses of the Oregon Legislature this spring, with a handful of Republicans joining the majority Democrats in favor.

The payouts grew out of a 2021 proposal for greater stimulus payments - up to $2,000 - to key workers who stayed on the job throughout the epidemic and those who returned to work last autumn. If you have any questions, please contact the Oregon Department of Revenue at one time.assistancepayment@dor.oregon.gov.

Will There Be a Federal Stimulus Payment?

Several reports over the holiday weekend indicated that the Biden administration is contemplating a handful of alternatives for a fresh stimulus plan to address increasing gas costs. President Joe Biden stated that a decision on a gas tax vacation will be made before the end of the week, saving Americans 18.4 cents per gallon at the pump.

The gas tax holiday would eliminate all gasoline taxes. However, the president is also exploring rebate cards, which would offer millions of Americans relief at the gas pump. Rebate cards were explored months ago; and according to another Washington Post source, they are again being examined. The gas tax holiday is more plausible because the US chip scarcity will make it difficult to print enough cards for everyone.

Nonetheless, the gas tax holiday will require congressional action, and the Senate, like many others, is divided on the issue of giving Americans immediate assistance, Oregon Live reported. According to numerous sources, the Biden administration is considering taking extraordinary steps to assist citizens in dealing with rising fuel prices. Among the probable plans are the following:

Gas rebate cards
A gas tax holiday

Gas rebate cards would be more like previous stimulus plans in that Americans would get money directly from the government. However, there are logistical concerns, such as the fact that a lack of microchips would make producing a sufficient number of cards for everyone who qualifies for them impossible.

The gas tax holiday, on the other hand, has a better chance of becoming a reality. This would simply require temporarily halting the collection of the federal gas tax. This would result in a savings of around 18.4 cents per gallon of petrol, which may make a significant impact on many people's finances.

While a tax suspension may not seem like much stimulus relief, the prior three payments were essentially deemed advances on tax credits, and there isn't a large practical difference between getting money back from the IRS and not having to pay money to the federal government in the first place.

A gas tax vacation is more likely to materialize than most other suggested stimulus measures because the Biden administration does not require congressional approval to halt the collection of federal gas taxes. President Biden has also confirmed the existence of this idea and stated that he wants to make a decision "based on the evidence" shortly.

Americans who are struggling to pay rising gas costs or who are otherwise dealing with economic issues related to the pandemic should keep an eye on Washington, D.C., as help may finally be on the way after several failed attempts at offering further support, as per The Ascent via MSN.