[StBernard] BREAKING NEWS: Vitter, Landrieu Hurricane Amendments Accepted In Budget Resolution

[Westley Annis]

Vitter, Landrieu Hurricane Amendments
Accepted Into Budget Resolution

 

(Washington, D.C.) - U.S. Sens. David Vitter and Mary Landrieu today
proposed several amendments to secure critical funding in the federal budget
for coastal restoration, hurricane protection and small business issues.
These amendments were included in the final budget package.

            "This is great news for Louisiana. These amendments will secure
future revenue to help meet our coastal needs, provide another avenue for
levee protection and address key small business issues," Vitter said. "In
addition, they are done in a reasonable way to help meet Louisiana's needs,
but that are fiscally responsible and a part of the federal budget."

            "By working together and pooling our political influence, I am
very proud that we were able to secure these important wins for Louisiana,"
Landrieu said. "These amendments open the door for significant new hurricane
protection funding and support for our small businesses. While much more
work is needed to get these funds through the entire legislative process, I
look forward to continuing our fight for stronger levees and coastal
protection."      

            The first amendment would create a reserve fund from excess
federal revenue to help coastal states like Louisiana meet their needs. The
excess revenue would come from three areas: future revenues from offshore
energy production that aren't currently part of the federal budget; a
significant portion of the federal share of Alaska National Wildlife Refuge
energy production, upon future passage by the U.S. Congress; and a portion
of digital television revenues that exceed the current projection for
spectrum auctions. 

            The reserve fund created by this amendment prioritizes how
future revenue will be spent. In this case, it will be used by coastal
states for coastal conservation, mitigation and resource protection.

            "This is a vital first step that can get us on the path to
self-sufficiency, to taking care of these crucial needs without constantly
having to ask Congress for direct federal appropriations," said Vitter.
"Rather than having to come back here every two or three months for
additional appropriations, it would be far better to have a stable revenue
source that can help us meet these needs directly. This amendment helps to
achieve that goal."

            "For years, the federal government has tried a piecemeal funding
approach for levees, flood control and coastal protection - it has
tragically failed," Landrieu said. "This is an important breakthrough in the
battle we have been fighting for years. It moves us closer to the robust,
long-term revenue stream we need for comprehensive coastal restoration and
hurricane protection."    

            The second amendment that Vitter and Landrieu proposed would
allow the U.S. Senate Committee on Environment and Public Works to pass
legislation spending up to $10 billion on hurricane and flood protection
measures.

            "This amendment builds flexibility into the budget to help
provide additional funds for hurricane and flood protection, like our levees
in southeast Louisiana," said Vitter.  "As a member of the Environment and
Public Works Committee, I look forward to drafting legislation that provides
critical funding for our levees."

            "Our delegation is pursuing every avenue available to us for
securing the funding we need to protect our coast and build our levees
stronger," Landrieu said. "It is literally a matter of life and death. This
amendment opens another window of opportunity by giving us more flexibility
as we pursue this funding through the Water Resources Development process."


            Vitter and Landrieu were also instrumental in having a number of
small business issues addressed in the amendment process. They were able to
increase the budget for the Small Business Administration (SBA) by $130
million, from $624 million to $754 million. This includes a $41 million
increase to the SBA's disaster loan program, which will stop a proposed
raise in disaster loan interest rates. This amendment is also intended to
help curb expected SBA staffing cuts that would have further delayed the
already lagging loan approval process.  

            "It's hard to believe the SBA would make loans more expensive,
while bogging down the process and not approving as many to begin with,"
Landrieu said. "But that's just what this budget called for, taking a
lifeline for disaster victims and turning it into an anchor. This amendment
will help relieve the problem, and I will continue to work with Senators
Snowe, Kerry, and Vitter to make sure the needs of our home and small
business owners are better met."

            "I'm following up on the commitment I made during the Small
Business Committee hearing last week by passing an amendment to reverse the
proposal of increasing interest rates on future SBA disaster loans after the
first five years," said Vitter. "Getting this issue addressed in the overall
budget is great news for people in Louisiana and around the country who may
suffer in future disasters."

 

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