News Ticker

Democrats Propose Inflationary Bill to Offset Inflation

By Eric Utter | 24 March 2022

AMERICAN THINKER — Rampant inflation got you down?  Don’t worry: Democrats are here to help!  Rep. Mike Thompson (D-Calif.), Rep. John Larson (D-Conn.), and Rep. Lauren Underwood (D-Ill.) have proposed a bill that would give every American $100 each month to help offset the scourge of rapidly rising inflation.

CBS News noted of the proposal, which is being called the Gas Rebate Act: “The gas stimulus would ‘provide middle-class Americans with monthly payments to ease the financial burden of this global crisis,’ Thompson said in a statement about the proposal.”

Not to be outdone, Rep. Ro Khanna (D-Calif.) and Sen. Sheldon Whitehouse (D-R.I.) have put forth a second proposal, one that would provide a quarterly rebate to consumers based on a tax levied on oil and gas companies.  According to a statement from the two lawmakers, their “Big Oil Windfall Profits Tax” would charge a per-barrel tax equal to 50% of the difference between the current price of a barrel of oil and its pre-pandemic average price between 2015 and 2019.  Khanna and Whitehouse claim to have calculated that if the per-barrel price is, say, $120, the tax would raise about $45 billion a year — providing single filers with $240 annually and joint filers with $360 per year.  (Another marriage penalty?) […]

Be the first to comment

Post a Comment

Winter Watch
%d bloggers like this: