Bud Shuster: “I appreciate what both gentlemen from Louisiana are trying to do with this. But the Corps of Engineers projects undergo…”

“I appreciate what both gentlemen from Louisiana are trying to do with this. But the Corps of Engineers projects undergo rigorous economic and environmental reviews. In carrying out the economic analysis for flood damage reduction projects, the Corps of Engineers review many factors to determine whether a project is economically justified. In other words, in order for the Corps of Engineers to carry a flood damage reduction project, the economic benefits have to outweigh the cost of constructing a project. Unfortunately, this amendment would change that. The Corps currently is required to look at the national impact to the economy. So, for instance, the Port of New Orleans, it is extremely important to the Nation; the Port of Newark, New Jersey, extremely important to the Nation. But in this amendment, what it will take is it will reduce it down to the regional impact to the economy and, again, that is what is important, that the Corps continues to look at a national perspective on how those projects impact nationally, not just regionally. So I reluctantly, at this point, urge all Members to oppose this amendment. Mr. Chairman, I reserve the balance of my time.”