Michigan residents have been feeling the pinch from the pandemic for some time now, and the recent gas prices have been no exception. Prices have been steadily rising throughout the state, making it difficult for Michiganders to make ends meet. Thankfully, some relief is on the way in the form of stimulus checks and lower gas prices.
The recent passage of the $1.9 trillion stimulus package has been a much-needed lifeline for many in Michigan. Families who have been struggling to make ends meet during the pandemic can now receive direct payments of up to $1,400 per person. This money can be used to cover essential expenses such as food and rent, or it can be saved for more long-term investments.
On top of the stimulus checks, Michigan residents have also received some relief at the pump. Gas prices have been steadily declining throughout the state, and the current average price of $2.86 is the lowest it has been in over a year. This decrease in prices has been a welcome relief for many Michiganders, who have seen their budgets stretched thin over the past year.
Breaking Down The Stimulus Package
The recently passed stimulus package is the third of its kind since the pandemic began. This package includes direct payments to individuals, an extension of unemployment benefits, and more. The package also includes provisions to increase the child tax credit, provide funding for schools, and extend the eviction moratorium.
For individuals, the package includes direct payments of up to $1,400 per person. These payments are based on your 2018 or 2019 tax return, meaning that individuals who did not file taxes in either of those years are still eligible for the payments. Married couples who file jointly will receive up to $2,800, and parents will receive an additional $1,400 for each dependent child.
The package also includes an extension of unemployment benefits for those who are still out of work due to the pandemic. This extension will provide up to $300 per week in additional benefits, as well as an extra $100 per week for those who are self-employed. This should help to ease the financial burden for those who are still struggling to find employment.
How The Lower Gas Prices Will Help Michigan Residents
The decrease in gas prices is another welcome relief for Michigan residents. Gas prices have been steadily climbing since the pandemic began, reaching an all-time high of $3.36 in March of 2021. This increase was due to a combination of factors, including the disruption of supply chains, the closure of some refineries, and the reduced demand for fuel.
The recent decrease in gas prices is a welcome respite for many Michiganders who rely on their cars to get to work or to run errands. This decrease in prices should help to ease the financial burden for many families and individuals who have been struggling to make ends meet during the pandemic.
The decrease in gas prices also comes at a time when the state is beginning to slowly reopen. Many businesses and restaurants are beginning to open their doors, and more people are venturing out of their homes. This should lead to an increase in demand for fuel, which should help to further drive down prices in the coming weeks and months.
Michigan Residents Are Reaping The Benefits
Michigan residents have been feeling the financial strain of the pandemic for some time now, and the recent stimulus package and decrease in gas prices are a welcome relief for many. The direct payments and extended unemployment benefits should help to ease the financial burden for many families, while the decrease in gas prices will help to make life a bit easier for those who rely on their cars. Although the pandemic is still far from over, these recent developments should help to make life a bit easier for Michigan residents.
