Boehner Oil Plan Seen by CBO Raising 5% of Needed Transit Funds
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A Republican plan boosting U.S. oil production in the Gulf of Mexico and Alaska to pay for mass transit would generate 5 percent of the funds lawmakers say are needed, according to Congressional Budget Office estimates.
Adding production would raise $2.06 billion for the U.S. budget by the end of 2016, and total $4.28 billion by 2022, the CBO said in reports yesterday. Republicans are seeking $40 billion for U.S. mass-transit needs through 2016.