November 8, 2017

On November 8, the Senate Committee on Energy and Natural Resources introduced reconciliation legislation, fulfilling instructions in the fiscal year (FY) 2018 budget resolution (H.Con.Res.71) for the committee to provide legislative recommendations to the Senate Committee on the Budget that would result in $1 billion in new revenue over ten years to offset federal tax cuts. The legislation would direct the Secretary of the Interior to implement an oil and gas leasing program for the coastal plain (1002 Area) of the Arctic National Wildlife Refuge (ANWR), which the Congressional Budget Office estimates would increase net offsetting receipts by about $1.1 billion over the 2018-2027 period.

Sources: Congressional Budget Office, Department of the Interior, U.S. Senate Committee on Energy and Natural Resources, White House Office of the Press Secretary