I am here to bring you some good news, some hard truths and a challenge. This year, together, we will begin the massive, yet necessary, undertaking of restoring the Everglades. Restoring America's Everglades builds on the very American ideal that there are unique landscapes that we as a nation believe are worth preserving. It is also an ideal that is now worthy of action.
First, the good news. Last Friday, Florida concluded its annual legislative session. I can proudly report to the Congress that our commitment to the Everglades is solid. In fact, it is more than solid. As of next Tuesday, it will be the law. As part of our state budget, the Florida Legislature has appropriated an unprecedented level of funding to begin the implementation of the Restudy more than $136 million in the first year alone. These dollars will be matched by local governments and the South Florida Water Management District for a total of $221 million to begin this important work.
Next week, I will be joined in South Florida by federal, state and local leaders to sign into law Florida's Everglades Restoration Investment Act -- a measure that passed the Florida Senate and House of Representatives unanimously. With this new law, Florida will contribute over $2 billion to the Restudy project over the next 10 years. It will not only codify our long-term monetary commitment to the Everglades, but will create the Save Our Everglades Trust Fund that will enable Florida to save money for peak spending years on the horizon. No other state has made such a substantial financial commitment to a project yet to be authorized by the federal government.
Second, the hard truths. This is not the first time Florida has "gone first." Since 1983, when then-Governor Bob Graham created the Save Our Everglades program, the State of Florida has spent over $2.3 billion and acquired more than 1 million acres of land to avoid further destruction and degradation of the River of Grass. All of this is to say that the time has come for a legitimate and equal partnership with the federal government. I believe this project will require Washington to think anew. Too often in the past, partnerships of this nature between federal and state governments have been anything but partnerships. At their worst, they have been master/servant arrangements. The Administration's bill that you are considering here today is a particularly egregious example of this. What had been a consensus plan among all the parties both state and federal for restoring the Everglades would be recast. The Administration's bill seeks to redefine the project purpose; to establish federal agencies as principal managers of South Florida's water resources; and to be the sole arbiter of differences. We must rebalance the relationship into a true and equal partnership.
Water Resources Development Act projects typically require a 20 or 30 percent financial commitment from the states. Yet Florida now stands ready to deliver with a 50 percent commitment. In exchange, we seek a new structure of governance. Because of the importance of this project and the enormity of the task ahead, Florida believes that it should be on equal footing with the federal government not only in terms of financing, but in managing, governing and operating this project.
Working as equal partners not only makes business sense, but also makes for good public policy. Disputes will be resolved quickly and fairly. Opportunities for cost savings will be more readily identified and pursued. And both partners will reap the benefits of cooperation and consensus.
Finally, the challenge. Florida needs your commitment. It is apparent that Americans across the country support restoring the America's Everglades the same way we have protected Yellowstone and the Grand Canyon. Foremost, we need to put Washington's financial commitment on the table. Congress should not delay in providing funding to match dollar for dollar Florida's commitment. Congress should also pass a stand-alone Everglades Bill, one that demonstrates your own dedication to this endeavor. And Congress should, in cooperation with the Administration and Florida, craft a project authorization that for the first time puts Florida and the federal government on equal footing.
With this commitment from Washington, our federal, state and local governments will protect 68 federally endangered species that call America's Everglades home. We will recapture the 1.7 billion gallons of water that are now channeled out to sea and use it to help restore natural systems. And we will, in the tradition of Theodore Roosevelt, continue America's legacy of stewardship.
Mr. Chairman and members of the Committee, let your own legacy be that of saving America's Everglades. All of the elements are in place. All that remains is your steadfast response. First through authorization, then through appropriation. We have done everything possible to make it easy for you to say yes. The State of Florida is now ready and willing to be your partner to restore America's Everglades.
Thank you Chairman Smith for your leadership.