Scalise Applauds Senate Committee Approval of COASTAL Act
WASHINGTON, D.C.—House Republican Whip Steve Scalise (R-La.) released the following statement in support of the COASTAL Act by U.S. Senator Bill Cassidy, M.D. (R-La.) which will increase the royalties that Gulf states like Louisiana receive from offshore energy production. The COASTAL Act passed out of the Senate Energy and Natural Resources Committee earlier this week.
“I applaud the Senate Energy Committee for passing Senator Cassidy’s bill that increases revenue sharing for Louisiana and other Gulf states. Creating parity in revenue sharing has long been a top priority of mine as well as our entire delegation because the revenues generated off our coast through oil and gas production are a critical source of funds needed to rebuild Louisiana’s vanishing coast and protect our communities from future storms. Senator Cassidy’s bill, which is similar to legislation that I and others in our delegation have introduced in the House, finally brings Louisiana and other Gulf coast states in line with onshore states that already receive 50% of the revenues generated from energy exploration and production.
“This issue is not new to Louisiana. In 2006, Louisiana voters overwhelmingly approved a Constitutional amendment, which I co-sponsored as a state representative, to dedicate drilling revenues to coastal restoration and hurricane protection. These investments protect Louisiana families and small businesses, as well as the fisheries and energy infrastructure upon which our entire nation depends.
“I will continue working with our entire delegation and other Gulf coast states to finally ensure we receive our fair share of offshore revenues.”
Click here to read Senator Cassidy’s press release.