Obama calls for $1,000 consumer energy rebates

Finding it tough to come up with the cash to keep your tank full? You are most definitely not alone. To offset the rising cost of gas in the country, Democratic Presidential candidate Barack Obama has called for a new $1,000 consumer energy rebate, which he says, "will be enough to offset the increased cost of gas for a working family over the next four months." From what we can gather, the actual rebate amount would be $500 for an individual or $1000 for a married couple.

Wondering where the money would come from to? According to the plan (.pdf link here), "The rebates would be fully paid for with five years of a windfall profits tax on record oil company profits." The report further says that Obama recognizes that the oil companies are being well managed, but that much of their record profits are coming solely due to the rising cost of oil. Similar windfall taxes are apparently being considered in the U.K.

[Source: Associated Press via Yahoo News]

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