Coastal Trust Fund Act
Summary
The Coastal Trust Fund Act establishes a trust fund within the Treasury dedicated to coastal storm risk management activities. It allocates $1 billion annually from Outer Continental Shelf Lands Act revenues to the fund. The funds are intended for construction, operation, maintenance, repair, rehabilitation, and nourishment of coastal storm risk management projects carried out by the Army Corps of Engineers.
Expected Effects
The Act aims to provide a dedicated funding source for coastal protection and resilience. This will likely lead to increased investment in infrastructure projects designed to mitigate the impact of coastal storms. The Act also mandates annual reports to Congress on fund usage and project details, promoting transparency.
Potential Benefits
- Dedicated funding stream for coastal storm risk management.
- Supports infrastructure projects that protect coastal communities.
- Potential for job creation in construction and engineering sectors.
- Increased resilience to the impacts of climate change and severe weather.
- Transparency through annual reporting to Congress.
Potential Disadvantages
- Reliance on Outer Continental Shelf revenues, which may fluctuate.
- Potential for funds to be directed towards projects with limited effectiveness.
- Possible delays in project implementation due to bureaucratic processes.
- The Act does not address the root causes of climate change, only its impacts.
- Termination clause could lead to uncertainty in long-term funding.
Constitutional Alignment
The Act appears to align with the General Welfare Clause (Preamble) by promoting the well-being of coastal communities through storm risk management. Congress's power to appropriate funds for public works is established in Article I, Section 8, which implicitly supports the creation of such a trust fund. The Act does not appear to infringe upon any specific constitutional rights or limitations.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).