Attorney General Jim Hood issued the following press release:
The state of Mississippi is expected to receive $150 million from BP on Friday, representing the oil company’s first payment for economic damages resulting from the 2010 Deepwater
Horizon disaster, Attorney General Jim Hood announced today.
The
payment comes three months after five Gulf Coast states, the federal
government and BP finalized a nearly $20 billion settlement in federal
court. The agreement is the largest environmental
settlement in history. In all, Mississippi will receive approximately
$2.2 billion in compensation from BP.
Attorney
General Hood commended his staff and state agency employees for their
years-long efforts to ensure Mississippi held BP accountable for its
actions and that the state received appropriate
compensation for economic recovery and coastal restoration.
Attorney
General Hood said he remained committed to making sure that coastal
counties and cities receive fair treatment from the settlement. As part
of that commitment, Attorney General Hood reminded
the Legislature that, despite a significant budget deficit, the $150
million in recoveries from BP should be directed for projects on the
Coast. This initial payment – expected Friday and required to be delivered by BP no later than Sunday – is part of a total
of $750 million for economic damages that Mississippi will receive over the next 17 years.
“After
years of litigation and work to identify the economic damage caused by
this catastrophe, we reached an agreement that would help to make our
coastal communities whole again,” Attorney General
Hood said. “However, I am deeply concerned that the state’s legislative
leaders may use this payment to try to cover up their self-created
budget hole.”
Attorney
General Hood noted that the Legislature has already earmarked
approximately $46 million from the $150 million disbursement.
Legislative leaders would do a disservice to their coastal constituents
if they use that money to fund anything other than areas impacted by
the spill, he said.
“Those
who created this budget emergency by providing self-serving tax cuts to
big business should not use this money to cover up their mess at the
expense of our neighbors on the Coast,” Attorney
General Hood said
29 comments:
My name is Jim Hood and I approve this message.
BLAH BLAH BLAH...
How do you determine the economic damage that the state suffered as a result of lower sales taxes and income tax that would have been in the general fund for use across the state? Explain that Jim Hood , Chris McDaniel and any other political blow hard that is trying to pander to the coast.
The hogs are lining up at the trough....
I doubt the state had much in damages. This money should go to the Coast. I am not a fan of Hoods, but he is right on this one. Our Governor and Legislature will try to cover up their blunders over this last session.
Tupelo suffered greatly from this mishap and we need to develop a shopping venue up there similar to Ridgeland's Renaissance. Haley will consult.
A million for the state, a million for me, right on down the line as long as it will last.
That is almost enough to cover next month's state budget shortfall.
Tater is so pissed General Hood actually knows how to crunch numbers.
6/7ths of sales tax goes to state. 1/7 goes to local municipality. So yeah, the state coffers lost money.
Um....ask any restaurant or hotel owner on the coast if they saw a revenue decline. And 7:07 is right, that revenue decline directly affected the state sales tax collections.
The anti everythings just need to sit this one out.
The coastal counties and cities already got a settlement. Let's don't forget that. The state settlement is for the state, not a double up for the coast.
I hope Lynn Fitch, Delbert Hosemann or someone who knows how to use a calculator runs in the GOP primary in 2019. If they don't I hope Jim Hood pulls it off. The state will end up like Puerto Rico if the financial mismanagement continues
This whole thing has so many layers of consultants, lawyers and advisors the coast will just have to be happy with their empty baseball stadium.
The blamers, like 7:51, can continue to pretend the oil-blob effected the state sales tax, the budget screw up, the highway problems and the cost of eggs at Waffle House. Bull Shit.
If every conference, retreat and symposium held in Destin by a Mississippi corporation, government body or other MS entity were held in Mississippi, we'd be just fine.
This money belongs to the State. The municipalities will get theirs in a separate funding provided they filed as a claimant.
Tate isn't as smart as he would like people to think. I am all in for Jim!
Yes, let's not "double" up on the coast. Sounds like a well thought out approach. Rational. Indeed. Why should those people down there receive all of the money? Didn't they get their's already??? We should now spread the love throughout the state....
Yes, the coastal areas have received some BP money already. But nothing like the state settlement. Why should any other part of Mississippi see one cent of this money? One cent?
Please note: the world does not revolve around Jackson, Mississippi and it's more "uppity" suburban neighbors. We might live and pray a little differently than the rest rest of the folks in the great State of Sippi, but we certainly send more than our fair share of tax dollars to the three-ring republican circus in Jackson to manage on our behalf.
I am not a democrat. I am not a republican. I am anti-pig at the trough politicians...no matter the political affiliation. They all start to look the same after a while. One pig after another.
I'm no fan of Hood either, but he is spot on with his assessment of this situation. Sad day for the Mississippi Republican Party when Jim Hood has become the voice of reason. But the three-ring republican circus in Jackson knows what's best for all of us. I sleep better knowing we have elected the best politicians money can buy. They are all hard at work making sure they are serving those that elected them to the extent that the three-ring circus leaders will allow them. Phil, Tate, Gunn. What more could we ask for?
Hood might actually pull it off at this rate.
Pheel will be enjoying his "campaign war chest" retirement fund after he leaves the halls of public service at the end of his time as govenor. Who knows, he may try to land Thad's job before too long. He is exactly the kind of political trailblazer I would love to see represent Mississippi on the federal level too. Oh my, what a vision. U.S. Senator Pheel.
The money belongs to Hancock, Harrison, and Jackson counties. It sure as hell doesn't need to spent on a parking garage in Starkvegas like some of the Katrina money was.
Also, I'm not sure why some of you think Hood will run in 2019.
Jim Hoodbalaya.
Delbert runs a self-funding agency and treats people poorly. Don't be fooled by his PR.
How much are Mike Moore and Hood's other cronies getting paid on the BP claims?
Our Republican dominated state budget has become a disaster. I have always voted Republican, but next time, I am going with Hood. the House Speaker, the Governor and the Lt. Governor must go away.
If we can get through Gov. Bryant's miserable second term without the federal government having to take over the state and appoint a competent temporary administrator, I pray that Hosemann will run. We cannot continue on this path.
Hood will lose.
Changing to a democrat will not make any difference. Remember back. It isn't like there has never been a democrat elected. People just have a short memory span.
Republican or democrat, not a bit of difference. With the leadership the people of Ms. elect we will always be in last place.
Name one single politician who has ever made a difference in the state, democrat or republican.
If the gulf coast can have a new taxpayer financed dolphin prison why can't Greenwood or Meridian?
There must be plenty of dolphins so that everywhere wanting their own dolphin prison could have one.
Can't the money also be used to build some more baseball stadiums for economic development?
In 2019 I will not vote for another Tea Party Republican so that rules out Reeves and Gunn. I will vote for Lynn Fitch, Delbert Hoseman, or Jim Hood for Governor and a sane and moderate Republican or Brandon Presley for Lt. Gov. We have had enough of financial mismanagement, unconstitutional laws, and obsession about social issues. Time to move on to things that make sense and might actually accomplish something.
Funny, that's what the tea party stood for at its inception. That lasted about 3 months.
Funny, that's what the tea party claimed to stand for at its inception.
That apparently never was true.
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