Reid not sure when Senate will look at changing liability caps for oil spills

Raising or changing the damages liability caps for oil spills will be done soon in the Senate. 

Sen. Majority Leader Harry Reid said Tuesday that "there will be a number of opportunities" to deal with the cap but it won't be included in financial regulatory reform legislation under consideration. 

"There are lots of places we could try to do it," he said. "We have to find an opportune time."

He said it's likely the companies involved in the spill were negligent and "probably grossly negligent," he told reporters today. 

Reid said the federal government is making sure that British Petroleum, "pays for every penny of the damage they caused with that spill." 

Lawmakers shouldn't rush any changes, especially considering the spill still isn't under control, he said. 

Several Senators have called for an increase in the cap from $75 million to $10 billion to ensure that BP pays for containment, clean up and economic damages to coastal businesses.