Now is the time to enact the Gas Price Spike Act

[eridani]

Tax Windfall Profits of Oil Companies

What more do we need to know about the rising price of gasoline? Profits are soaring to all time highs while oil companies raise prices with impunity. Oil runs the White House, puts us into war, runs geopolitics, frustrates the development of alternative energy, ruins the environment. What will it take for the Congress to wake up? $5 a gallon?

There is a short term, effective solution: The Gas Price Spike Act of 2005. This bill exacts a 100% windfall profits tax on oil companies on excessive profits. The money gained from the windfall profits tax would be put into a fund for tax breaks for the purchase of ultra-efficient vehicles made in the US. Money would also be made available for mass transit assistance. Review the bill and its sponsors here.

Only a 100% windfall profits tax will cause the oil companies to stop their aggressive pricing which is destroying the budgets of millions of American families. I need your help to wake up the Congress and pass this legislation.


http://kucinich.us/archive/report/display.php?r=39&d=2005-08-17+10%3A06%3A14