Monday, September 26, 2005

Dialing for dollars

Louisiana's Senators, Mary Landrieu (D) and David Vitter (R), may be from opposite sides of the aisle, but are coming together to forge a bailout package for their hurricane-battered roads and bridges. The two senators have proposed legislation to provide about $250 billion in federal aid to help their state rebuild from Hurricane Katrina. The 10-year plan includes about $180 billion in direct federal spending. The rest would be the cost of various tax breaks. But all of sudden, sympathy for Louisana is getting conditional now that real costs are on the table. 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 out of SAFETEA-LU. 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. Those revenues would go for restoration of coastal wetlands and barrier islands as well as infrastructure. I know two things: 1) the cost of reconstruction is going to be huge and 2) the job has to get done. Your comment?