WILKES-BARRE - Congressman Paul E. Kanjorski (D-11) announced his introduction of H.R. 5800, the Consumer Reasonable Energy Price Protection Act of 2008.  This bill would allow the federal government to tax windfall oil and gas profits, some of which are resulting in exorbitant oil and gas prices that average Americans struggle to afford.  Industries yield windfall profits when their earnings exceed what the Reasonable Profits Board determines is rational, as laid out in the legislation. 

"I am pleased to introduce a bill that would tax oil and gas companies' for their excessive profits while encouraging them to decrease the prices for their products," said Congressman Kanjorski.  "Like my constituents in Northeastern Pennsylvania, I am appalled by the spiraling prices at the gas pump and in home heating fuel.  I am working to change the sharp contrast between the industries' growing profits and Americans' increasing inability to pay for oil and gas."

Kanjorski’s district includes parts of Monroe County.