Senate Proceeding on Apr 2nd, 2009 :: 4:54:15 to 4:55:45
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4:53:56 to 4:54:17( Edit History Discussion )

Max Baucus: law. it does not anywhere in the country that it doesn't already exist. and that is the essence of the amendment. i offer with myself and senator begich from alaska. the presiding officer: the clerk will read the the clerk will report the amendment. the cler

4:54:15 to 4:55:45( Edit History Discussion )
Speech By: Max Baucus

4:54:18 to 4:54:38( Edit History Discussion )

Max Baucus: louisiana, herself and amendment 931 mr. baucus: mr. president? the presiding offi recognized. mr. baucus: mr. president, this is not an insignificant amendment. this is not small change. and it has very, very

4:54:39 to 4:54:59( Edit History Discussion )

Max Baucus: significant consequences to states. a very small number of states, a handful, will get a big windfall. all the rest of the states will have money otherwise raised revenues, royalties not go to them at all. currently revenue goes to all 50 states.

4:55:00 to 4:55:21( Edit History Discussion )

Max Baucus: there is a small coastal states in florida. this amendment says all the revenue raised all around the coastal revenue goes to only those few states, coastal states, which means revenue would not go to the other states that benefit currently and gas leasing revenue. the other big consequence is

4:55:22 to 4:55:44( Edit History Discussion )

Max Baucus: this is a big tax increase. it's a revenue-neutral provision. that means it's $110 billion conservatively over ten years which means we've got to raise taxes of $110 billion for getting money to a small handful of stes rather than away from a majority of states. i strongly urge members not to support this amendment. the presiding officer: the question is on the amendment.

4:55:45 to 4:55:45( Edit History Discussion )

Max Baucus: all in favor