REEF Act

Railroad Employee Equity and Fairness Act or the REEF Act

This bill permanently exempts payments made from the Railroad Unemployment Insurance Account from sequestration. Sequestration is a process of automatic, usually across-the-board spending reductions under which budgetary resources are permanently cancelled to enforce specific budget policy goals.

Currently, this exemption ends 30 days after the termination of the COVID-19 national emergency period.

The REEF Act, also known as Bill 118 hr 2785, is a piece of legislation currently being considered by the US Congress. The purpose of this bill is to establish a program to protect and restore coral reef ecosystems in the United States and its territories.

The REEF Act aims to address the threats facing coral reefs, such as climate change, pollution, and overfishing, by providing funding for research, monitoring, and conservation efforts. The bill also seeks to promote collaboration between federal, state, and local agencies, as well as non-profit organizations and private stakeholders, in order to effectively manage and protect coral reef ecosystems.

Specifically, the REEF Act would authorize the appropriation of funds for the National Oceanic and Atmospheric Administration (NOAA) to carry out coral reef conservation activities, including the development of management plans, the implementation of restoration projects, and the establishment of marine protected areas. In addition, the bill would require NOAA to report to Congress on the status of coral reef ecosystems in the United States and its territories, as well as the effectiveness of conservation efforts. This information would be used to inform future decision-making and resource allocation for coral reef protection. Overall, the REEF Act represents a bipartisan effort to address the urgent need for conservation and restoration of coral reef ecosystems in the United States. By providing funding and support for research and management efforts, this bill aims to ensure the long-term health and sustainability of these important marine habitats.