Oil Spill Liability Trust Fund to Lapse at Month’s End
The excise tax that is the principal source of revenue for the federal
The
Enacted in the wake of the massive
* Reimbursing spill-related expenses for the
* State restoration costs and lost tax revenue; and
* Losses claimed by businesses, such as fishing fleets.
"With the Trump administration's new push for offshore drilling, letting the
By way of proposed improvements, in 2013 the
1. Increase the per barrel oil fee paid into the Fund;
2. Institute a spill fee on cargo ships, which are covered by the Fund but do not currently pay into it;
3. Make the Fund easily accessible for spill prevention measures nationwide; and
4. Increase the financial liability limits for spills.
Even when fully funded, the Government Accountability Office warned that the
"The main advantage of having a
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