FOR IMMEDIATE RELEASE:
CONTACT: Christianné Allen, Christianne.Allen@mail.house.gov
CONTACT: Marisa Melton, Marisa.Melton@mail.house.gov
WASHINGTON, D.C. — U.S. Congressman Russ Fulcher (Idaho-01) issued the following statement after the House Committee on Natural Resources held a successful full committee markup and advanced its portion of the reconciliation bill:
“After a long night on Capitol Hill, my Natural Resources colleagues and I passed our portion of the reconciliation bill,” said Congressman Fulcher. “We were tasked with identifying $1 billion in savings and instead achieved $18.5 billion in new revenue and savings for taxpayers. This legislation will restore U.S. energy dominance, reduce the risk of wildfires by ensuring wise stewardship of our natural resources and lands, bring the cost of energy down for Americans, and deliver on our commitment to reinstitute fiscal sanity in Washington, D.C.”
Bill Background (Courtesy of the House Committee on Natural Resources):
The legislation generates revenue and implements savings across federal agencies, in total reducing the federal deficit by an estimated $18.5 billion. Provisions include:
- Reinstating quarterly onshore oil and gas lease sales, generating $12 billion in revenue.
- Mandating at least 30 lease sales in the Gulf of America over the next 15 years and six in the Cook Inlet, generating billions of dollars in new revenue.
- Returning to reasonable oil and natural gas royalty rates, capping them at 12.5 percent.
- Requiring geothermal lease sales annually, generating $23 million in new revenue.
- Resuming leasing for energy production in the National Petroleum Reserve in Alaska and the Arctic National Wildlife Refuge, generating over $1 billion in new revenue and savings.
- Resuming coal leasing on federal lands.
- Increasing timber sales on federal lands and requiring long-term timber contracts.
- Rescinding various wasteful slush funds established under the Biden administration in agencies such as the National Oceanic and Atmospheric Administration, the National Park Service, and the Bureau of Land Management.
- Investing in water infrastructure in the West.
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