Byrne Urges Inclusion of Pro-Gulf Coast Provision in Tax Bill
Congressman Bradley Byrne led a group of colleagues in urging for a provision important to Gulf Coast states be included in the final tax reform legislation.
In a letter to House leaders, Congressman Byrne and his colleagues urged inclusion of the Cassidy-Strange Amendment in the final tax reform bill. The amendment, led by Louisiana Senator Bill Cassidy and Alabama Senator Luther Strange, would increase the money states are able to receive through the Gulf of Mexico Energy Security Act (GOMESA).
GOMESA is the federal legislation that creates a revenue sharing agreement between Texas, Louisiana, Mississippi, and Alabama. Under GOMESA, each state receives a percentage of federal oil revenue from drilling off their respective coast.
Congressman Byrne said: “As we work on a final tax reform bill, I strongly urge House and Senate leaders to include a provision that benefits Gulf Coast states. The amendment would ensure appropriate and full revenue from offshore oil and gas drilling in the Gulf of Mexico makes it to the appropriate states. This money is critically important to support our coastal ecosystem and our coastal communities. I thank Senators Cassidy and Strange for their work on this amendment, and I hope it is a part of the final tax reform legislation.”
The letter was signed by Congressmen Steven Palazzo (R-MS), Clay Higgins (R-LA), Blake Farenthold (R-TX), Brian Babin (R-TX), and Randy Weber (R-TX).
The amendment would help make up for shortfalls in the projected amount of revenue from offshore oil and gas leases. It would increase the revenue sharing cap from $500 million to $650 million for two years (2020 and 2021).
Click here to read the letter.