[StBernard] Ensuring Oil Spill Funding Goes to Oil Spill Cleanup

[Westley Annis]

Dear Friend, 

	

As the oil spill crisis continues, we must ensure that all available
resources are there to stop the flow and clean up the mess.  BP will be held
responsible for all clean up costs and legitimate claims for losses, but to
fund immediate operations that will be reimbursed, there is an Oil Spill
Liability Trust Fund funded by a tax on oil. 

	

That tax is currently 8 cents per barrel.  There was a bill on the Senate
floor this week that would raise it to 41 cents, adding $15 billion to that
fund.  While it seems like this is good news because it ensures money will
be there to respond to the current tragedy and any future events, that is
not the full story. 

	

Instead, Washington politicians want to use the oil spill fund to pay for
other deficit spending.  That includes $1 billion for a youth summer jobs
program, $1 billion for a housing trust fund that is supposed to be funded
by Fannie Mae and Freddie Mac, and even more items in a bill that adds
almost $80 billion to our debt.  The increased tax on oil is reportedly to
ensure the fund is solvent, but it is then double counted to mask the cost
of deficit spending.  It is another example of outrageous Washington
spending and phony accounting. 

	

I offered a very simple amendment that would ensure revenue to the Oil Spill
Liability Trust Fund can only be used for oil spill response, not as an
offset for other spending.  Unfortunately, my bipartisan amendment was
defeated in the Senate.  I can't believe this simple idea to end the phony
double-counting process was rejected, especially as we face the worst oil
spill in our nation's history.  Now more than ever we need that fund to be
protected and available, not raided for more unrelated federal spending. 

	

I will continue fighting for what we need for the oil spill, and I will
continue to reject efforts to hijack our crisis to fund more wasteful
Washington spending. 

Sincerely,
David Vitter
U.S. Senator