Posted on 09/23/2005 2:48:35 PM PDT by econjack
Louisiana Senators Propose $250-Billion Katrina Reconstruction Package, Other Lawmakers Seek Offsetting Cut
September 23, 2005
Louisiana's Senators, Mary Landrieu (D) and David Vitter (R), have proposed legislation to provide about $250 billion in federal aid to help their state rebuild from Hurricane Katrina. The massive, 10-year plan, contained in a bill introduced on Sept. 22, includes about $180 billion in direct federal spending, Vitter said. The rest would represent the cost of various tax breaks.
But Sen. Tom Coburn (R-Okla.) and several other GOP colleagues want at least some of the federal hurricane relief spending to be offset with spending cuts. Among their suggestions: a 5% across-the-board cut in discretionary spending other than defense and homeland security; and rescinding $24 billion in earmarked highway projects in the recently enacted highway and transit authorization bill.
Already, Congress has approved $62.3 billion in post-Katrina relief aid for Louisiana and other Gulf Coast states. The Office of Management and Budget has said it further spending would be requested.
The Landrieu-Vitter package would draw most of its funds from federal appropriations, but they also are seeking 50% of the revenue from oil and gas leases off their state's coast. Vitter says that 50% share of lease payments recently has ranged between $3 billion and $4 billion annually. Those revenues would go for restoration of coastal wetlands and barrier islands as well as infrastructure.
The energy bill signed into law in August provides Louisiana with $135 million in oil and gas lease revenue annually for four years to be used for coastal restoration work.
The new plan also includes more than $16 billion for transportation, of which $2.9 billion would be emergency relief aid to repair highways and other infrastructure; and $50 billion in Community Development Block Grants "to provide disaster relief and promote long term recovery" in the affected area, according to a summary of the bill prepared by Landrieu's staff.
There also would be $40 billion that an envisioned new "Pelican Commission" would use for Corps of Engineers hurricane and flood protection, coastal restoration and navigation projects."
Landrieu says she recognizes that the sum she and Vitter are seeking is large, but she says of the hurricane's aftermath, "It's not a local problem. It's not a state problem. It's a national tragedy and it needs an unprecedented national response."
The legislation also would allot $150 million to the National Park Service for historic preservation grants "to owners of historic structures and artifacts affected by Hurricane Katrina," says the bill summary. The non-federal matching share for the grants will be 25%, instead of the usual 50%.The non-federal match could be cash or services, labor or equipment. The program would be administered together with the State Historic Preservation Office and National Center for Preservation Technology and Training in Natchitoches, La.
In addition, the measure would provide $30 million to the Park Service for preservation grants for National Historic Landmarks, plus $8 million to technical assistance and training for people who want to restore historic property, and $20 million for the Trust's preservation services.
Start tittin'. I'll tat.
BTTT
There were 4,500,000 people living in Louisiana as of 2003. $250 billion averages out to $55,500 per person, or $222,000 for a family of four.
Or alternatively, $800+ for every man, woman & child in the USA.
I totally agree. $1.9 billion and look what we get.
Bulldoze the whole place into the Gulf.
PS...Landrieu needs anger management classes post haste.
Ummm Senators ... How about we get an estimate bill before we pay for it
Since you're the econo-jack, you must realize that there is an enormous price to be paid either way. One of them is short term, while the other one is long term. Which of these two is the better choice? I'll let you define which is which.
It sounds like the State of Louisiana is broke and can't pay their bills
Wasn't that movie The Pelican Briefs?
Why don't you start by responding to econjack's post:
"Really? You mean LA didn't get fair market price for the fuels they sold on the open market? Were they really selling at gun-point? You mean the federal government didn't subsidize any of the development of the Port of NO? You mean the oil depletion give-aways during the decades of the '60's-'90's was unfair to those who work in the oil industry in LA? Hmmm...I must have missed something...
Zero, Zip, Nada, Nothing
Haven't you heard from the news .. New Orleans is more important
Before the Feds give our hard earned and extorted taxes to pay for the rebuilding of a completely mismanaged state which seems to be built below sealevel,Will the feds reimburse me for my Homeowners insurance premium which was doubled from $800 to $1600 dollars this year.
If Landreau, Blanco and Nitwit Neggin are still in office fuggettaboutit.
Might just as well throw the 290 Billion out of an Airplane at 30,000 feet.
Cost us 15 Billion for the "big dig" in Boston and the tunnels are leaking so bad you might need a Submarine at rush hour. Nobody knows where the money went.
They built the lake ponchetrain bridge with private funds and I hope they had insurance.
Yep, bulldoze it into the gulf. That will help in the effort to bring it up above sea level. Then enlarge the port by combining the lake. Finally,relocate only skilled and willing workers into housing back North about 10 miles.
Drain it. Fill it. Pave it.
Mississippi could use some good parking.
This is despicable. New Orleans is not worth $250 billion. Just gut the poor areas and build refineries. Otherwise we'd just be paying 50% for home rebuilding, 25% for welfare and 25% for Colt 45 and crack cocaine.
I will answer his points if that's what you want.
Fair market prices should include the cost of maintaining the Louisiana coastline against coastal erosion caused by the existence of offshore oil and gas production. It hasn't. U.S. consumers should be held accountable for the restoration of property damaged due to their consumption. After all, "were they really buying at gunpoint" oil and gas products from Louisiana?
Federal subsidies have been lavished all over the nation. The amount of money invested in New Orleans has far outpaid itself in the savings on goods and their impacts on houshold budgets across America. This cannot be said of most other subsidies.
The oil depletion allowance didn't help thousands of Louisiana workers when the bust of the 80's hit. Ask Mr. econojack how many oil wells were being drilled in the mid 90's when oil actually dropped to less than ten dollars a barrel. He must have missed something.
I've tatted. It's your turn to tit.
It works for me. I know the port is important, but the city...not so much. Not enough for the rest of us to be forced to pay to rebuild everybody's houses.
You have not answered econjack's points - you have attempted to say that you know better. But you don't. Go back and re-read this whole thread and try to let it in that the "nation" does not agree with you.
Louisiana is "entitled" to nothing. If the citiznes of Louisiana did not care enough to protect their own - why should the rest of us?
It will not cost us much to rebuild a port. Perhaps that is all we should do. Asking for $250 billion is so disgraceful that Landrieu and Vitter should be laughed out of Washington...
I agree absolutely that there is a huge price to be paid. My point is that the public officials in NO and LA in general have demonstrated that they can't be trusted with OUR money. Further, the citizens have turned a blind eye to the fiscal irresponsibility that good stewardship demands. Why should the rest of us shoulder the burden--long or short run--for a state that continues to elect such public servants. As I said before, Mr. Piper is in LA and it's time for THEM, not us, to pay him.
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