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Graves legislation prompts $68 million interest forgiveness for Southeast Louisiana Flood Control Project

Congressman Garret Graves (R-South Louisiana) made the following statement about the recent U.S. Army Corps of Engineers action to reduce up to $68 million in interest obligations owed by Jefferson and Orleans Parishes as their share of construction costs for the Southeast Louisiana Flood Control Project.

“As I’ve stated since June, we are running through the tape. We will not stop fighting for Louisiana until the fight is through. Katrina was nearly 20 years ago, but so many have forgotten what our state stands to lose if we take our eyes off the ball, said Graves. “We have been dogged in our pursuit of forcing the federal government to live up to their commitment to make it right with the people of Louisiana and ensure that we don’t allow short-term thinking to stop us from protecting the ecological and physical viability of the state. If we take our eyes off the ball, we are doomed to see Katrina happen again.”

Background

In 2020, Graves authored a provision in the Water Resources Development Act which allowed the State of Louisiana to make accelerated loan payments owed to the federal government for the post-Katrina levee systems surrounding New Orleans in exchange for a complete forgiveness of interest owed on the projects. Graves’s efforts saved the state over $1 billion in interest. The second prong to the provision allowed for Orleans and Jefferson Parishes to request a renegotiation of their own repayment of costs associated with the SELA drainage project. Graves regularly engaged with the U.S. Army Corps, the Assistant Secretary of the Army for Civil Works and the Office of Management and Budget over the past four years to force the Biden administration to follow the law and provide relief to the parishes.