Washington – Members in a House-Senate conference committee started arguing on legislation, which would drive billions of dollars to the Gulf Coast states impacted by the April 2010 BP oil spill.
The members are trying to negotiate differences between the Senate and the House versions of a transportation bill, which includes the RESTORE Act. The act is meant to give 80 percent of the BP oil spill fines to the Gulf Coast communities.
The estimated BP fine is between $5 and $20 billion. If the legislation is not approved, this money would directly go to the government treasury. Then it would be spent for whatever decided by the Congress.
The main difference between the Senate and House bills is whether to give a part of BP fines to a conservation fund, which would help out other states as well. Another difference is whether to impose tax increase on American companies doing business abroad.