Senators Call on BP to Set Up $20B Special Account

June 14, 2010 - 12:27 PM
 Democratic senators want BP to set aside $20 billion to pay for cleanup and other costs from the Gulf oil spill.
Washington (AP) - Democratic senators want BP to set aside $20 billion to pay for cleanup and other costs from the Gulf oil spill.
 
Senate Majority Leader Harry Reid, D-Nev., plans to send BP a letter on Monday proposing the account. That's two days before BP executives meet with President Barack Obama and three days before chief executive Tony Hayward testifies at a House hearing.
 
A copy of the letter was released Sunday by Reid's office.
 
BP has promised to pay for damages. But Obama also wants BP to create a special escrow account, though he hasn't suggested an initial amount.