Energy Committee Advances Chairman’s Mark to Meet FY2018 Budget Instruction
Authorizes Responsible Development in 1002 Area, Generates Over $1 Billion in Revenues Over First 10 Years
The Senate Committee on Energy and Natural Resources today advanced reconciliation legislation pursuant to the committee’s instruction to raise $1 billion in federal revenues in H. Con. Res. 71, the Concurrent Resolution on the Budget for Fiscal Year 2018.
“Our bipartisan vote today is another positive step forward for Alaska and our nation, and I thank my colleagues for their strong support,” Murkowski said. “Opening a small part of the non-wilderness 1002 Area for responsible energy development will create thousands of good jobs, keep energy affordable for families and businesses, ensure a steady long-term supply of American energy, generate new wealth, reduce the federal deficit, and strengthen our national security.”
The budget reconciliation legislation was reported favorably out of committee on a bipartisan vote of 13-10. Murkowski voted in support of the legislation, which now heads to the Budget Committee.
The legislation authorizes limited and responsible energy development on 2,000 federal acres in the non-wilderness portion of the Arctic National Wildlife Refuge (ANWR) in Alaska, known as the “1002 Area” or Coastal Plain. The Congressional Budget Office estimates the legislation will raise nearly $1.1 billion over the 10-year budget window. Between rents, royalties, and federal taxes, it will raise substantially greater revenues once production from the 1002 Area begins.
Murkowski is chairman of the Senate Committee on Energy and Natural Resources.