NEWS OF: 5/5/2006

Tom Allen for Senate

Tom Allen, a member of the House Energy and Commerce Committee, has outlined a four-point plan to provide immediate relief from rising oil prices.

H.R. 3936, The Federal Response to Energy Emergencies (or FREE) Act, would give the FTC the explicit authority to investigate and punish those who artificially inflate the price of energy. (At the moment that would be everyone selling energy.)

H.R. 5248, The Prevent Unfair Manipulation of Prices (or PUMP) Act, would require off-market oil speculators to comply with the same rules that already apply to on-market traders.

H.R. 3944, The Small Business Fuel Cost Relief Act is legislation Representative Allen introduced after Hurricane Katrina to allow eligible businesses to claim a tax credit for any amount they spend on fuel (including gasoline, diesel, natural gas, and heating oil) over the price on Labor Day 2004, plus the rate of inflation.

Representative Allen also called for an immediate repeal of massive subsidies Congress gave to big oil companies in last year’s energy bill.

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