$500 per person tax rebate for high gas prices?

"To ease the sting of higher gas prices," U.S. Sen. Debbie Stabenow, D-Lansing, "has called for a one-time, $500 per person tax rebate for people earning up to $119,950 annually. It would be paid for by rolling back $5 billion in tax breaks for oil companies." (DetroitNews)

Is this a good idea?