Reply #5: Kucinich's Gas Price Spike Act Will Lower Gas Prices ?

[Algorem]

http://www.commondreams.org/news2005/0811-12.htm

Gas Price Spike Act Will Lower Gas Prices

WASHINGTON - August 11 - With gas prices skyrocketing out of control in Northeast Ohio and nationwide, Congressman Dennis J. Kucinich (D-OH), today, renewed his fight to pass HR 2070, The Gas Price Spike Act of 2005. The legislation, introduced by Kucinich in May, currently is co-sponsored by 37 Members of Congress.

The bill will address the spike in the price of gasoline by placing a windfall profits tax on oil companies; giving tax credits for the purchase of ultra efficient vehicles; and provide federal grants to reduced mass transit fares.

“Consumers in Northeast Ohio, and nationwide, are being gouged at the pump,” stated Kucinich. “The only thing rising faster than the price of gasoline right now is the skyrocketing profits of the oil companies.”

“Congress can no longer sit on the sidelines and watch as skyrocketing prices continue to take a heavy economic toll on consumers and risks further harming our economy,” continued Kucinich. “Congress must act immediately upon returning in September, and I am renewing my efforts to pass HR 2070, and bring immediate relief to consumers.” ...