Friday, 05 April 2019 11:15

Alaskan Senator Introduces New Oil Spill Fund Bill

555 Dan Sullivan


U.S. Senator Dan Sullivan has introduced a new bill that would modify and permanently reauthorize the federal Oil Spill Liability Trust Fund. The Spill Response and Prevention Surety Act will maintain the existing nine-cent-per-barrel tax while establishing a USD 7 billion tax collection ceiling and USD 5 billion collection floor. The single incident payout claim would be doubled to USD 2 billion, and the natural resource damage claim would also be doubled to USD 1 billion.



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