Still waiting for OMB response to January request for revenue analysis
U.S. Sen. David Vitter today highlighted news reports that illustrate the lack of success of "green job" initiatives that the president and his administration have pushed forward in their agenda. In addition, Vitter again called on Office of Management and Budget Director Jacob Lew to produce the revenue analysis for offshore energy exploration as part of the federal budget that he requested back in January of this year.
"When I wrote OMB for this analysis in January, I highlighted then that credit ratings agencies were watching our fiscal policy even back then. I'm still waiting for their response. With all the talk about government revenues and balanced budgets, the key component being ignored is the vast amount of revenues the government could generate from economic growth, not taxes. And I would argue those revenues are sitting on the sidelines in our domestic energy industry because of this administration's policies that shackle our industry in pursuit of failed, high subsidized green industries and green jobs," said Vitter. "It's time for us to truly examine and account all these "green initiatives" as we examine all facets of our budget. That's why I'm introducing my Green Jobs Accounting Act as soon as the Senate returns to session."
In January, Vitter and Rep. Jeff Landry (LA-03) wrote OMB Director Jacob Lew requesting the Obama administration to provide Congress with data on the federal government's offshore drilling revenue -- information that they believe would show how much the administration's anti-drilling policies are impacting the federal budget.
Based on recent projections from the U.S. Energy Information Administration, production in the Gulf of Mexico is expected to drop this year by 220,000 barrels per day.
Last fall Vitter asked the Interior Department to share these same revenue figures, but Interior Secretary Ken Salazar ignored the request. Currently, Vitter is blocking a pay raise for Salazar.