Defying the laws of economics, a group of lawmakers from North Carolina are proposing to fight energy inflation by… handing out more cash to consumers?
Yes, you read that right: as reported by Wral.com, senators from North Carolina are looking to hand out one-time $200 payments to all adult drivers in the state to help ease the financial burden of surging gasoline prices. If passed, the Gas Tax Rebate Act of 2022 would allocate $1.3 billion from the state’s $4.241 billion in additional revenue, with drivers receiving the cash incentive sometime in October.
To qualify for the rebate, consumers must have a valid drivers license from the state of North Carolina, and must be at least 18 years of age. The national average price of gasoline in the US hit over $4.98 per gallon this week, compared to about $3 per gallon during the same time last year.
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Information for this briefing was found via Wral.com. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
