Rep. Rush Holt (D-NJ), lead sponsor of the Big Oil Bailout Prevention Act, says Minority Leader John Boehner and the Chamber of Commerce are wrong, wrong, wrong if they believe the government should pitch in to help BP cover the costs of the spill.
“The Minority Leader and the Chamber are wrong,” Holt says. “BP is responsible for this disaster and BP - not the American taxpayer - should be responsible for every last cent of the cleanup costs and economic damages caused by the spill. My sympathies aren’t with BP and Big Oil - my sympathies are with the small business owner, the restaurateur, the vacation home renter, the fishermen, and the American taxpayer.”
Holt’s bill would raise the liability cap on oil companies and apply it retroactively to BP, whose exposure is limited to $75 million under current law.
Brian Beutler is TPM's senior congressional reporter. Since 2009, he's led coverage of health care reform, Wall Street reform, taxes, the GOP budget, the government shutdown fight, and the debt limit fight. He can be reached at firstname.lastname@example.org.