Washington (CNN) – President Barack Obama on Wednesday proposed a package of measures that would provide $118 million in additional funding for oil spill relief efforts and raise the tax that oil companies pay to maintain an emergency fund.
In a letter to House Speaker Nancy Pelosi requesting congressional approval of the package, Obama said oil giant BP - which owns the leaking well at the source of the Gulf of Mexico spill - was responsible for all clean-up costs. In addition, Obama said, the government would seek full compensation for all damages from BP.
"We cannot allow the potentially protracted pursuit of claims to prevent us from swift action to help those harmed by this spill," Obama said in the letter.
Jeff Liebman, the acting deputy director of the Office of Management and Budget, said the package called for an additional $118 million in spending.
"We expect that the overall majority of that would end up being reimbursed by BP," Liebman said.
Good move Mr. President. This spill has got to be contained quickly or the economical & ecological damage to the Gulf States will be irreversable. It's already going to destroy entire ecosystems as well as devastate the fishing, shrimping, and oyster industries for years to come. If the oil reaches the Florida beaches the state's tourism industry will also take a massive hit. I find it incredulous that the latest CNN poll shows 60% of Americans still favor offshore drilling even with all the coverage of the disaster. It goes to show just how self-centered and greedy we've become as a nation.
"President Barack Obama ... proposed [to] raise the tax that oil companies pay..."
No, he proposed raising the taxes consumers pay–even Obama isn't dumb enough to think that the oil companies are just going to eat that additional tax.
"We expect that the overall majority of that would end up being reimbursed by BP,"
Why aren't they paying for all of it?
What the "spill baby spill" crowd won't tell you.
Coral Reefs around Florida provide ingredients for cancer meds and HIV meds.
Oil kills coral reefs – thus kills medicines needed for cancer patients.
SPILL BABY SPILL. KILL CANCER PATIENTS. DRIVE THOSE GAS GUZZLERS. GO AHEAD !!!!! Kill the whole planet for that 8 cylinder vehicle you all like.
Grand-babies and great-grand-babies don't matter to YOU. Kill the planet.
I wonder if the GOP will vote NO on this too?