I need to check more, but here's my take.  Politically---very popular with 
legislators; very easy to pass, etc.  However, it would be so complicated to 
implement and is very likely in conflict with so many federal laws, that I 
think they'll have an extremely difficult time pulling it off.  In addition, 
the utilities (whose retained generation collected a big portion of the 
"windfall" selling through the PX) would be subject to a big tax hit.  Would 
that push them into bankruptcy?  In short, easy to pass politically, pretty 
difficult to make stick legally.  This help?  

You still have your PCG position?

Best,
Jeff



	Michelle D Cisneros@ECT
	04/04/2001 03:24 PM
		 
		 To: Jeff Dasovich/NA/Enron@Enron
		 cc: 
		 Subject: Windfall Profit Tax

How real is this and how much support is there behind this. Will it be 
introduced today? When might it be voted on?

Thanks,
michelle