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Hare Calls for Windfall Profits Tax as Gas Prices Climb to Over $4.00 a Gallon in Illinois

Press Release

Location: Washington, DC

Congressman Phil Hare (D-IL) today released the following statement in response to the average price of gas in Illinois climbing to $4.06 a gallon.

"I am appalled that Illinoisans will be forced to grapple with record high gas prices this Memorial Day Weekend.

"As working families struggle to fill up their tanks, big oil companies are resting comfortably on their record profits. There is something wrong with this picture.

"Congress should adopt H.R. 6000, the Gas Price Spike Act of 2008, which would implement a windfall profits tax on gasoline and diesel.

"The threat of heavy taxation will send a clear signal to oil companies that price gouging does not pay.

"The fact that Exxon-Mobil just earned the highest corporate profit in U.S. history at a time when average families can barely afford their daily commute is a moral outrage.

"It is time to do something about it."

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