WASHINGTON, DC
The U.S. Travel Association today applauded adoption of the RESTORE the Gulf Coast Act by the U.S. Senate. The legislation, offered as an amendment by Senator Bill Nelson, Senator Richard Shelby and Senator Mary Landrieu provides critical economic help to states affected by the BP oil disaster.
More specifically, it creates a Gulf Coast Restoration trust fund; it dedicates 80 percent of Clean Water Act penalties to be paid by BP and other responsible parties to the restoration of the Gulf Coast ecosystem and economy; it provides needed resources to Gulf Coast States by establishing three mechanisms for allocating the funds available in each fiscal year and until the funds are expended; and it establishes the Long-Term Science and Fisheries Endowment and Gulf Coast Centers of Excellence, to which five percent of the funds would be allocated.
"The Gulf Coast demonstrated remarkable resilience in the wake of the BP oil spill," said Roger Dow, president and CEO of the U.S. Travel Association. "The Gulf is open for business, but there is still more that must be done. U.S. Travel applauds adoption of the RESTORE the Gulf Coast Act, and we urge members of Congress to preserve this important legislation.”
