Sen. Talent Announces Bill to Provide $100 Gas Rebate for Consumers
Sen. Talent Announces Bill to Provide $100 Gas Rebate for Consumers
U.S. Senator Jim Talent (R-Mo.) today announced legislation to provide a $100 the Gas Price Relief and Rebate Act at a Capitol Hill news conference. Sen. Talent is co-sponsoring the plan which will help ease the burden on consumers from high oil and gas prices, continue to develop and diversify our domestic fuel supply, and reduce our dependence on foreign oil by allowing oil exploration in the Artic National Wildlife Refuge (ANWR).
"High gas prices are taking away money that Missourians need for their families," said Sen. Talent. "They are entitled to something better. Our energy package provides short-term relief and long-term relief. The $100 gas rebate will be very welcome in Missouri and all over the country. The bill also follows up on the very important changes we made last year in the Energy bill with regard to renewable fuels. Our legislation would also open up the ANWR for oil exploration so we can reduce our dependence on foreign oil."
The following are the key features of the Gas Price Relief and Rebate Act of 2006:
Gas Tax Holiday Rebate for Consumers
Provides a $100 gas tax holiday rebate check to every taxpayer to help ease the burden of high gasoline costs.
Consumer Anti-Price Gouging Protection
Gives the Federal Trade Commission, as well as the Justice Department and state attorneys general, the authority to bring enforcement actions against any supplier unlawfully inflating the price of gas to protect consumers from abuse.
Tax Incentives
Repeals tax incentives for oil companies while expanding tax incentives to promote the use of hybrid vehicles and increase refinery capacity to secure our gasoline supply.
Strategic Petroleum Reserve
Urges the Administration to suspend deposits into the Strategic Petroleum Reserve for six months to make more oil available for consumer use.
Expanding Domestic Supply in the Arctic National Wildlife Refuge
Opens a portion of the Coastal Plain of ANWR to environmentally sensitive oil exploration to reduce our dependence on foreign oil. If we had enacted ANWR legislation a decade ago, it would now be producing 1 million barrels of oil a day, which would mean lower gas prices.
Refinery Capacity
Encourages the construction of new refineries and the expansion of existing refineries to enhance our energy infrastructure and lower prices at the pump.
Sen. Talent said he was hopeful the Senate would take up this energy package at the earliest opportunity so we can be begin providing short-term and long-term relief for Missourians. He also said he was hopeful measures like exploring for oil in the ANWR and expanding refinery capacity would not be subject to a filibuster as they have in the past.
http://talent.senate.gov/News/singleNews.cfm?NewsID=1625