The Consumer First Energy Act of 2008 (S. 3044) is a set of initiatives laid out by the US Democratic Party on Wednesday May 7, 2008. The plan was first mentioned by House Speaker Nancy Pelosi on April 27, 2006.[citation needed] The few details that have been released include:
- A 25% windfall profit tax on any energy company that didn't invest in new energy sources.
- End $17 billion in tax breaks to energy companies.
- Prevent the Dept of Energy from adding to the Strategic Petroleum Reserve until the price of crude oil averaged under $75 for 90 days.
- Require the CFTC to boost Margin requirements for Oil futures.
The bill was debated on 5 June 2008,[1] and filibustered in the Senate on 10 June 2008[2]