White House Asks Congress to Raise Liability Cap on BP Oil Spill

By: Associated Press
By: Associated Press

The White House is asking Congress to raise a liability cap that could limit how much BP has to pay in economic damages in the Gulf oil spill.

The administration also wants to increase a per-barrel tax on oil companies to replenish a clean-up fund likely to be tapped to pay for the massive spill.

And the White House wants Congress to OK more unemployment assistance, help for fishermen and money for food stamps - a total
of $118 million in new spending, though administration officials
insisted most of the new costs will be born by BP.

President Barack Obama sent the legislative proposal to Capitol
Hill on Wednesday. Jeff Liebman, acting deputy director of the Office of Management and Budget, said the administration hopes to get it passed in the next few weeks.

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