Senators to push for $100 gas rebate..

[dj_tessai]

WASHINGTON (CNN) -- Every American taxpayer would get a $100 rebate check to offset the pain of higher pump prices for gasoline, under an amendment Senate Republicans hope to bring to a vote Thursday.

Thursday, April 27, 2006; Posted: 5:44 a.m. EDT (09:44 GMT)

However, the GOP energy package may face tough sledding because it also includes a controversial proposal to open part of the Arctic National Wildlife Refuge in Alaska to oil exploration, which most Democrats and some moderate Republicans oppose.

Democrats are also expected to offer their own competing proposal, as members of both parties jockey for political position on the gas price issue.

The energy package, sponsored by Sens. Charles Grassley of Iowa, Ted Stevens of Alaska, Pete Domenici of New Mexico and Rick Santorum of Pennsylvania, will be offered as an amendment to an emergency spending measure now before the Senate funding the Iraq war and hurricane relief, according to a senior GOP leadership aide.

Under Senate rules, either the GOP amendment or the Democratic alternative would probably need 60 votes to pass, which is considered unlikely. However, the amendments would give senators a change to cast votes on measures designed to help constituents being hit by high gas prices.

As outlined by the senior GOP leadership aide, the energy package would give taxpayers a $100 rebate, repeal tax incentives for oil companies and allow the Federal Trade Commission to prosecute retailers unlawfully inflating the price of gasoline.

The measure would also give the Transportation Department authority to issue fuel efficiency standards for passenger vehicles, expand tax incentives for the use of hybrid vehicles and push for more research into alternative fuels and expansion of existing oil refineries.

The GOP senators are also calling on the Bush administration to suspend deposits into the Strategic Petroleum Reserve for six months to increase the nation's oil supply. President Bush announced Tuesday that he would halt new deposits into the reserve until after the summer driving season. (Full story)

On the other side of the aisle, Democrats on Wednesday called for a new energy bill and federal legislation to punish price gougers.

"There's no reason why we can't put forth a real energy policy that addresses the needs of this nation," said Rep. Bart Stupak, a member of the House Energy and Commerce Committee, "from gouging to market manipulation to biofuels. We can do it." (Full story)

And leaders of the Senate Finance Committee on Wednesday asked the Internal Revenue Service to let them examine the tax returns of the nation's 15 largest oil and gas companies, as part of a "comprehensive review" of oil industry profits.

"I want to make sure the oil companies aren't taking a speed pass by the tax man," said Grassley, the committee's chairman, in a written statement. (Full Story)

[Dionysos]

Great, more band aids on the hemmoraging wound.

[e-brake]

Originally Posted by xian

That or they could just suspend federal gas taxes for 3 months

We could nationalize the oil industry and enjoy $0.14 a gallon gas like Venezuela does.

[Element4040]

You can keep the 100 dollar rebate to invest in fixing the Goshdang problem. Freakin idiots, goshhhhhhhhhhhhhh

[Satchel]

Originally Posted by xian

better than a "fuck you" to the wounded don't you think?

Not nearly as good as investing in solutions though. Besides I don't know how much trouble that 300 dollar rebate caused, but in my estimation is was a lot.

[e-brake]

Originally Posted by xian

lol - I'd rather pay $4.00 a gallon

Well I figured it was just as likely as the government rolling back the gas tax when we still have a few more invasions to fund this year.

Originally Posted by xian

seriously though - how many people have radically changed their behavior because of the price jump? Mostly we just bitch about the price.

I absolutely have, traded in the ole V8 for a 4 popper low emmissions hippy mobile for the first time in my life. We have had to cancle three trips to see family in other states because of travel cost, and we invested in a home office (faster web, new computers, etc.) so that Stacy could work from home and not commute.

I would say that the changes have been very signifigant. Granted were not talking about big numbers here, but we are talking about upwords of $300 - $400 a month extra out of pocket if we didnt have the work at home/hippy mobile setup that we have now.

[Dionysos]

Originally Posted by xian

better than a "fuck you" to the wounded don't you think?

Not really, considering the "rebate" is being paid out of our tax dollars anyway.

[Satchel]

Originally Posted by xian

Well yes Satchel, the world would be better if we had flying cars that put out nice smelling rose petal war for exhaust and everybody walked around telling each other how wonderful everything was. But, until then steps that help are steps that help - even if, admittedly, minor.

This isn't a step that helps though. A step that would help would be to put all of that money into more research, or at least to reduce the costs of hybrids.

[Dionysos]

Originally Posted by xian

Still a small effort is better than no effort even if I think wiser options exist.

I disagree. They're spending time crafting a worthless bill when they could be doing something meaningful with long term implications. It's a throwaway bill, and a waste of everyone's time.

[Satchel]

I wonder what the processing and administation costs are on an effort like this

[zerojunkie]

Why don't they take the rebate and subsidize a refinery or two?

[dj_tessai]

An SUV can cost nearly as much as $100 to fill up once depending on make and model, which is good for about 9 days of travel.

[Jitsu]

Originally Posted by xian

That or they could just suspend federal gas taxes for 3 months

I agree this is a better step than a "rebate". But I think our government would rather pay out a rebate and try to look good doing so than to suspend incoming funds (federal gas taxes). At least then they have the image of giving back to the people even though its the people's money in the first place.

The overhead in printing and mailing rebate checks seems far greater than suspending gas taxes but since when has our government worked efficiently??

Bush needs to remove the $2 billion tax credit that big oil companies enjoy, especially in a time of record profits by these companies. One would think they could pay their fair share of taxes when making that much money off Americans during an oil crisis... but then again, I'm sure the Bush family stands to make lots of many being in bed with all the oil tycoons.

[Jitsu]

Interestingly enough, if we are given the $100 rebate to offset high gas prices, I'm sure we'll be taxed on it (money we have already paid taxes on, mind you) so the government gets a portion back and looks good in the process.

[Jitsu]

Originally Posted by xian

I don't think a rebate is reportable as income - its a rebate of something you already paid - pretty sure of that actually

The rebate we recieved last year was taxable as income. Why would this one be any different?