Senate Bill to Divert 80 Percent of BP Funds to Gulf Coast Restoration

NEW ORLEANS, La. – A Senate bill is up for vote in the U.S. Senate Environment and Public Works Committee that would divert the majority of federal fines levied against BP for the 2010 Gulf of Mexico oil spill to Gulf Coast restoration. Louisiana Senators David Vitter (R) and Mary Landrieu (D) The Resources and Ecosystems Sustainability, Tourist Opportunities, Revived Economies of the Gulf Coast States Act of 2011, known as the Restore the Gulf Coast Act, would establish a trust fund "equal to 80 percent of all administrative, civil, and criminal penalties paid by a responsible party in connection with the Deepwater Horizon oil spill." Louisiana Senators Mary Landrieu (D) and David Vitter (R) are seeking to have the fines divided for different Gulf Coast restoration projects. Louisiana Record reports: According to the proposed legislation, 35 percent of the funds would be allocated in equal share to the five Gulf States affected by the spill; 60 percent towards the Gulf Coast Ecosystem Restoration Council; and 5 percent would go to Gulf Coast research. Bill S1400 has received support from nine of the 10 Gulf Coast Senators, made up of two Democrats and seven Republicans. Only John Cornyn (R, Texas) has not signed as sponsor. The bill has received support from six environmental groups that released a joint statement showing their agreement with the bill. The bill would take fines collected form BP under the Clean Water Act. The senators said the oil company faces fines from $5.4 billion to $21.1 billion. Senate Environment and Public Works Committee Chair Barbara Boxer (D-Calif.) echoed Vitter and Landrieu back in March, saying she would move to steer BP fines to Gulf Coast States. Vitter and Landrieu said they would seek an end to President Barack Obama's moratorium on issuing drilling permits in the Gulf at the hearing. There is no mention of lifting the moratorium in legislation they filed. Maritime attorneys, Gordon, Elias & Seely, L.L.P. work with Jones Act clients all along the Gulf Coast and throughout the nation. From Lake Charles to Lake Pontchartrain, our lawyers put decades of combined legal experience and extensive resources to work for clients who pursue compensation for their injuries under the Jones Act. We are the leading offshore injury law firm representing victims of the BP, Transocean Deepwater Horizon disaster, along with assisting businesses that were damaged by the impact of the Gulf oil spill. For a free consultation, call an expert maritime lawyer 24/7 at 800.773.6770. Related Searches: Louisiana maritime lawyer Houston maritime lawyer

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