House Republicans this week will renew their push to drill for oil in the Alaska National Wildlife Refuge (ANWR), with proceeds from the federal revenues it would create dedicated to funding road construction. Proponents of the project say it would save the U.S. $14 billion a year in oil imports and create more than half a million jobs on the Coastal Plain, in addition to funding infrastructure jobs building roads.
Rep. Don Young (R.-Alaska) says the Highway Trust Fund is struggling to finance projects, and that new sources of revenue are needed to keep the country’s roads in good repair. The trust fund is financed through gasoline taxes, but revenues have run short the past six years, with a deficit now reaching $7 billion, and no new funding streams have been approved. Rep. Doc Hastings (R.-Wash.), chairman of the House Resources Committee, said the legislation brings needed dollars into the federal Treasury without raising taxes...more
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