BP is tallying up the cost of the Gulf oil spill cleanup. And so far, it's come up with a figure of up to 32 billion dollars. But you the taxpayer might be picking up part of that tab. And that's got at least one lawmaker steaming mad! Florida Senator Bill Nelson fired off a letter to his colleagues on the Senate Finance Committee saying he's appalled that "BP intends to shift nearly 10 billion dollars of the costs related to the Gulf oil spill to the backs of the American taxpayers." BP says the work its done on the spill could go as high as 32 billion. That's the amount the company is taking as a pre-tax charge to cover damages, claims and clean up costs over the next few years. But BP is also planning to offset a third of that as a tax write off. Senator Nelson says, "It's unacceptable to have the taxpayers bear the burden of 10 billion dollars as a result of negligence of BP. For them to be able to write off as deductive expenses 32 billion, which is going to give them a ten billion dollar tax break... That's not playing fair with the American people." But what BP is doing is perfectly legal. BP can't write off any fines or penalties assessed by the government. But the 20 billion dollars BP set aside in an escrow fund--plus additional costs of containing the spill are all fair game for write-off's. And a spokesman for BP explained it this way..."BP is following the U.S. tax code with respect to the income tax treatment of costs associated with the MC 252 incident. Taxes are paid on profits and the Gulf of Mexico spill response costs have reduced BP's U.S. profits... so it follows that our tax obligations will be lower as well." But this explanation isn't satisfying everyone. One watchdog group, The Project on Government Oversight accuses BP of exploiting the tax code. What is your reaction to this tax loophole for BP?
Arizona's tough new immigration law took effect as of midnight... but perhaps it's not so tough anymore. The most controversial parts of the law were blocked Wednesday by a federal judge. Here are the parts of the law Judge Susan Bolton struck down: She took out the section that said undocumented workers can't solicit employment in public places; the part requiring all immigrants to carry proof of citizenship at all times, and the part requiring officers to check a person's immigration status while enforcing other laws... was also taken out. So while the law went into effect Thursday morning at 12:01, for now only part of it can be enforced. What do you think about the judge's decision? Will her actions weaken the impact of the law and make it ineffective?
The U.S. House has approved a major increase in funding for the war in Afghanistan. An additional 33 billion dollars will be used to pay for the movement of an additional 30,000 troops. More than 100 Democrats voted against the increase. One of them, Massachusetts Representative Jim McGovern said it would be better to use the funds to pay unemployment benefits and the salaries of police and teachers facing layoffs. Are you for or against the increase in funding for the war in Afghanistan?
A big money project in the Lake Area got even bigger last night when the Port of Lake Charles approved more money for the Co-Gen plant. The facility, which has yet to be built, will take petroleum coke and turn it into clean energy. So far, the only construction that's taken place in regards to the one billion dollar project is the clearing of a 70 acre tract of land on lease from the Port of Lake Charles. But before construction is ever kicked off, the people behind the Co-Gen plant are asking for an additional 400 million dollars. The Port of Lake Charles, who not only leases the land to Leucadia, LLC for one million dollars a year, but also distributes the bonds, has agreed to the increase. They will allocate 310 million dollars from Go-Zone bonds issued after Hurricane Ike and 90 million dollars from the Go-Zone bonds issued after Hurricanes Katrina and Rita. Leucadia will invest 600 million dollars of their own money bringing the grand total of the project to two billion dollars. The company says it needed the extra money because they looking at expanding the size of the plant. The Port expects the plant to generate around 150 to 200 permanent jobs, and around 3,000 construction jobs. What do you think of the additional funds being pumped into the Co-Gen plant before it's ever off the ground?
Calcasieu Police Jurors have declared a state of emergency in anticipation of Tropical Storm Bonnie. That's because even though Bonnie may not become a hurricane, she could still possibly cause trouble for the area in the form of power outages and other problems. Calcasieu Emergency Director Dick Gremillion says they'll be watching the situation carefully and advising the public as needed. According to the latest weather forecasts, Bonnie should be making landfall sometime early Sunday, somewhere along the Louisiana Coast. Calcasieu Parish officals will be holding a news conference 11:00 A.M. this morning on Tropical Storm Bonnie. You can see it live on KPLC-TV and on KPLCTV.Com. Give us your thoughts about preparations for Tropical Storm Bonnie.
It's free lakefront property... prime real estate that will play a major role in future development. Pinnacle made it official last night at the Lake Charles City Council meeting, donating the old Harrah's Hotel property to the city of Lake Charles. It's four acres of the best of what the downtown lake front has to offer. And while the city is appreciative of Pinnacle's gesture, Mayor Randy Roach cautioned that the city needs to really think things through. The Mayor explains that the city has six months to sell the property. If they can't find a buyer, then Pinnacle will demolish the hotel and parking garage and return the land to the city. But Mayor Roach says given the current economic fix, it will be hard to develop the property. Roach warned, "I don't want to create a false expectation on the part of the Council or part of the Downtown Development Authority or on the part of the community that within a year, there's going to be new buildings on this property." Other conditions do apply to the property. For example, Pinnacle has placed a restriction on any future gaming, including video poker. They also want the exclusive rights to put an advertising billboard on the property. But the City Council accepted those conditions, and voted unanimously to accept Pinnacle's donation of the property. Tell us what you think about the city accepting this property from Pinnacle... and how would you like to see it developed?
A rally opposing the federal moratorium on deepwater drilling in the Gulf will take place later this morning in Lafayette. The rally will be the first major protest against the moratorium since the coastal crisis began. The rally will feature local, state, and national speakers including Governor Bobby Jindal. Organizers expect a large crowd, possibly up to 20 thousand. George Swift of the Chamber Southwest, one of the sponsors of the event, says the moratorium is just another blow against Louisiana. "We've been through enough. We've had hurricanes, We've had recovery and we've had the oil spill to deal with. We don't need the final blow which would be to stop one of our biggest industries by shutting it down." The rally starts at 11:00 A.M. Do you think the rally will be effective in getting Washington D.C. to hear the concerns Louisianians have about the drilling moratorium?
Will Republicans block an extension of unemployment benefits today? President Barack Obama is in a heated battle with Republicans over this issue. And Monday, the President came out swinging. The President said Republicans are holding unemployed workers hostage by refusing to approve a plan to extend benefits to the unemployed. The benefits of over 3 million workers are set to expire at the end of the month if an extension is blocked today by Republicans. Obama said, "The same people who didn't have any problem spending hundreds of billions of dollars on tax breaks for the wealthiest Americans are now saying we shouldn't offer relief to middle class Americans... who really need help." Extending the benefits would end up costing taxpayers over 34 billion dollars, according to estimates. What do you think?... Should unemployment benefits be extended?
It's too early to break out the champagne, but the busted oil well in the Gulf of Mexico has stopped leaking... for now. If a new cap holds, if the sea floor doesn't crack, and if the relief wells that are being drilled work, this could be the beginning of the end for the spill. But many Gulf Coast residents don't believe it. Some accuse BP of lying to make itself look good. But so far, the cap is working and oil has stopped spewing into the Gulf of Mexico. One thing everyone agrees on-- there's still a long road ahead in cleaning up the massive spill. Today in our "Hot Topic" we're taking your comments on BP stopping the oil leak.
As the scope of the cleanup widens in the Gulf of Mexico, fishermen across the state are getting trained to help with the effort. One of those training courses took place yesterday in Cameron. Even though none of the oil has made it this far west, fishermen showed up at the Cameron Parish School Board Office for the training course. There they were taught everything from being able to identify the types of oil, to properly putting on a safety jumpsuit. Fishermen and shrimpers who participated in the safety course say it's their way of protecting the Cameron coastline if and when the oil should show up here. The safety course also addressed the issue of heat exposure and dehydration, because it's obviously very hard work... and hot work in the scorching Louisiana temperatures, along our beaches. Today in our "Hot Topic" we ask would you be willing to do clean up work in Cameron if the need arises?
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