[Congressional Record (Bound Edition), Volume 151 (2005), Part 6]
[House]
[Page 7330]
[From the U.S. Government Publishing Office, www.gpo.gov]




               COSPONSOR THE GAS PRICE SPIKE ACT OF 2005

  (Mr. KUCINICH asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. KUCINICH. Madam Speaker, all over this country, the American 
people are troubled by the fast increasing price of gasoline. The oil 
companies are making billions of dollars in windfall profits while 
families have had to tighten their budget. While families have 
experienced less money for food, clothing, shelter and education, the 
oil companies continue to rake the American consumer over the coals. 
The fastest way to bring relief from these high prices is to eliminate 
the price gouging by the oil companies and reduce demand.
  I have submitted a bill called the Gas Price Spike Act of 2005, which 
will discourage price gouging and reduce demand by implementing, first, 
a windfall profits tax on gasoline and diesel. Such a tax is to be 
imposed on key oil industry profits that are above a reasonable rate of 
return. If the oil companies are collecting excessive profits, they 
should be subject to a stiff tax on those excessive profits.
  It is time to stand up for the American consumers and take on these 
oil companies.

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