With the economy struggling and the government spending trillions to reverse the trend, some in Washington are looking for ways to raise more money without increasing taxes.
In response to Rep. Ron Kind, a Wisconsin Democrat, the Congressional Budget Office came up with a list of federal assets which "could be sold, leased, licensed, or otherwise conveyed to raise revenue." All Congress would need to do is change some laws controlling policy in sensitive areas like energy exploration, farming, or environmental protection.
From the letter CBO Director Douglas Elmendorf sent to Kind, here are nine suggestions, along with the estimated revenue:
- Open the Coastal Plain of the Arctic National Wildlife Refugee (ANWR) to Leasing.
In March2008, CBO estimated that auctioning leases for oil and gas development rights would raise $6 billion dollars over the next 10 years.
- Restructure the Power Marketing Administrations to Charge Higher Rates.
CBO estimates that amending current law to require those PMAs to sell electricity at market rates to any wholesale buyer would increase federal receipts by roughly $2 billion over the next 10 years.
- Sell the Southeastern Power Administration (SEPA) and Related Power-Generating Assets.
After accounting for lost revenues from forgone sales of electricity, CBO estimates that such a sale would likely generate net receipts in excess of $1 billion over the next 10 years.
- Sell a Portion of the Tennessee Valley Authority’s (TVA) Electric Power Assets.
CBO estimates that such sales could potentially generate tens of billions of dollars over the next 10 years, depending on market conditions and the terms of sales.
- Reduce the Size of the Strategic Petroleum Reserve (SPR).
Depending on market conditions, CBO expects that prohibiting the diversion of oil to the SPR would increase proceeds from oil sales by at least several hundred million dollars over the next 10 years.
- Revise and Reauthorize the Bureau of Land Management’s (BLM) Land Sale Process.
Depending on market conditions, CBO expects that enacting this proposal would increase net receipts by a total of a few hundred million dollars over the next 10 years.
- Charge Royalties for Hardrock Mining on Federal Lands.
Depending on market conditions for hardrock minerals, CBO anticipates that royalty payments would total tens of millions of dollars over the next 10 years.
- Use State Formulas to Set Grazing Fees for Federal Lands.
CBO estimates that increased grazing fees under this option would total tens of millions over the next 10 years.
- Maximize the Proceeds from Selling Federal Properties.
The federal property program currently generates only modest net proceeds -- about $20 million a year. The federal government could increase sales proceeds by enacting legislation to require GSA and other agencies, notwithstanding existing laws, to auction all surplus federal properties to the highest bidder.
The CBO included a multi-part tenth proposal that would charge higher fees for national parks, water provided from federal projects, and activities held on federal land.
Read the CBO's letter to Rep. Kind.
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