Aug. 1 (Bloomberg) -- Democratic presidential contender Barack Obama called today for the government to give consumers an immediate $500 rebate to offset the rise in energy costs.

The checks would be accompanied by a revamped $50 billion plan to boost the slumping economy. Congress should act quickly on the rebates, not wait for the next president, he said.

``You need immediate relief,'' Obama said today in St. Petersburg, Florida. The Illinois senator proposed paying for the energy assistance by taxing oil companies on their ``windfall'' profits.

The plan, which includes $25 billion to repair schools and to replenish the highway trust fund to repair roads and bridges, is largely a repackaging of initiatives Obama announced earlier.

The rebate initiative is ``pandering,'' said Lee Sheppard, a tax attorney with Tax Analysts in Falls Church, Virginia.

``Politicians are desperate to be seen to be doing something,'' Sheppard said. ``Sad that it has to involve tax law, but that is the main way government communicates with the middle class.''

White House spokeswomen Dana Perino said talk of a second economic stimulus package is ``premature.''

``We believe we should let the first stimulus package work first before trying to get a second,'' Perino said.

Tax Rebates

The IRS starting in April mailed tax rebate checks of at least $300 to taxpayers who earn less than $150,000 as part of an effort to spur consumer spending.

Obama's economic adviser, Jason Furman, said the proposed windfall profits tax would not raise the price of oil because ``oil companies are already charging as much as the market can bear.''

Furman said the proposal is the opposite of the gas-tax holiday proposed by Obama's Republican rival, John McCain, because it would boost taxes on oil company profits to benefit consumers while McCain's plan would give the oil companies a tax cut.

Christopher Low, chief economist at FTN Financial in New York, said ``It's nice that the plan won't add to the deficit. But if I was an Exxon-Mobil shareholder, I'd be pretty ticked off that he's making me pay the bill for this.''

`Are You Better off?'

Obama sought to connect his opponent John McCain to the ailing U.S. economy. Using a line former President Ronald Reagan used against President Jimmy Carter in 1980, he asked the crowd today in St. Petersburg: ``Do you think that you are better off now than you were four years ago or eight years ago?

``If you don't think you're better off, do you think you can afford another four years of the same failed economic policies that we've had under George W. Bush?,'' Obama said.

The Commerce Department today said the unemployment rate climbed to 5.7 percent, the highest level in four years.

Demonstrators interrupted Obama by shouting and holding up a sign reading, ``What about the black community, Obama?''

Last month, the Reverend Jesse Jackson was recorded on an open microphone during an appearance on Fox News complaining that Obama was ``talking down to black people.''

Protester `Misinformed'

One protester asked the Illinois senator, ``Why is it you have not had ability to not one time speak to the interests and even speak on behalf of the oppressed and exploited black community in this country?''

Obama told the protester he was ``misinformed'' and said he has spoken out on many issues that concern blacks.

The demonstration came a day after McCain accused him of playing ``the race card.'' Obama today repeated his claim that McCain and Republicans in general have run out of ideas and therefore are focusing on attacking him.

McCain, addressing the annual convention of the National Urban League today in Orlando, said Obama's ``ideas are not always as impressive as his rhetoric.''

McCain made a pitch for education reform, touting his school-choice agenda that he said would help disadvantaged children.

``You understand that persistent problems of failing schools and economic stagnation cannot be solved with the same tired ideas and pandering to special interests that have failed us time and again,'' McCain said. He said Obama is too tied to the teacher unions to make substantive change in public schools.

Obama is scheduled to speak to the group tomorrow.

To contact the reporter on this story: Kim Chipman in St. Petersburg, Florida, at kchipman@bloomerg.netAlison Fitzgerald in Washington at Afitzgerald2@bloomberg.net

Last Updated: August 1, 2008 15:27 EDT