From ATR

With energy prices reaching record highs, Congress continues its attempts to manipulate healthy market forces through additional tax increases. The Senate will vote tomorrow, June 10th, on Senate Majority Leader Harry Reid’s (D-NV) “Consumer-First Energy Act of 2008.” This bill is a violation of the Taxpayer Protection Pledge, signed by 41 current Senators.

The Reid Energy Tax Increase Bill invokes a 1970’s-era windfall profit tax on domestic energy companies. Congress should not look to the dismal economic period of the 1970’s for guidance. After successful deregulation and shrinking of government control in this sector, Congress, through this bill, seeks to increase price controls in order to further micromanage domestic energy markets. The Reid Energy Tax Increase Bill does not place consumers first. In fact, the bill will hurt American energy consumers directly through higher energy prices and indirectly through increased taxes.

Click here to send your representative an email opposing this legislation.