Gillen Trust Fund Bill Targets $1B Per-Year In Coastal Management Funds

WASHINGTON, D.C. — South Nassau Congresswoman Laura Gillen has introduced an ambitious coastal storm management bill that would create a trust fund to finance storm management and protection projects along America's coastlines. Outlined in the bill is a plan to allocate $1 billion per-year to that fund, which could be used to finance projects or invested.

The bill is a co-sponsored effort between Gillen and South Jersey Republican representative Jeff Van Drew, both of whom said their goal is to protect the beaches and coastlines that their constituents love to visit. Those beaches, they said, have become vulnerable to increasingly severe storms in recent years that could put their futures in jeopardy.

"As a lifelong Long Islander, I have witnessed firsthand how hurricanes, severe storms and coastal erosion can devastate our beachfronts," Gillen said. "Long Island is home to some of the nation's most beloved and iconic beaches, yet these treasured shorelines face growing threats from stronger storms and rising sea levels. That is why it is critical that we act now to strengthen our coastal resilience by investing in proactive, long-term solutions."

For Van Drew, the protection isn't just a recreation issue, but an issue of economics. For every boardwalk, there's a series of businesses making a living on foot traffic.

"The American coastal economy contributes to 46% of national GDP, but too often the government does not deliver coastal protection until after a disaster strikes," Van Drew said. "This legislation changes the status quo by investing $1 billion a year into the Army Corps of Engineers' coastal storm management projects."

The bill, available to read in full, outlines a plan that would allow the Secretary of Treasury to invest the balance of the trust fund available during the year, provided there's enough cash in the fund to meet its currrent withdrawals. The interest accrued on those investments, the bill reads, would go back into the fund.

For Gillen, the trust fund proposal is an attempt to tackle a part of coastal protection plans that's often hard to balance: The budget.

"We must secure dedicated funding for projects that protect our waterfront communities and preserve our shoreline. This will ensure that future generations can continue to live, work and enjoy the natural beauty that defines Long Island.