Consumer First Energy Act of 2008

The Consumer First Energy Act of 2008 (S. 3044) is a set of initiatives laid out by the US Democratic Party on Wednesday May 7, 2008. The plan was first mentioned by House Speaker Nancy Pelosi on April 27, 2006. The few details that have been released include:

  • A 25% windfall profit tax on any energy company that didn't invest in new energy sources.
  • End $17 billion in tax breaks to energy companies.
  • Prevent the Dept of Energy from adding to the Strategic Petroleum Reserve until the price of crude oil averaged under $75 for 90 days.
  • Require the CFTC to boost Margin requirements for Oil futures.

The bill was debated on 5 June 2008,[1] and filibustered in the Senate on 10 June 2008[2]

References
  1. "Senate website - see the floor schedule section (may be relocated at a future date)"
  2. Tax Hike on Oil Profits Blocked, Washington Post, 11 June 2008.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.