President’s Budget Requests Record Level of Funding for IWTF

Tuesday, February 07, 2006
President Bush’s FY 2007 proposed budget requests a record level of new federal funding for 11 Inland Waterways Trust Fund (IWTF)-financed projects. The budget request proposes FY ’07 spending of $394 million for Inland Waterways Trust Fund financed projects, of which $197 million will come from the dedicated Inland Waterways Trust Fund. The remainder would come from general treasury funds, as required under current law. The President’s FY ‘07 budget request is the highest funding recommendation for IWTF funded projects since cost-sharing legislation was enacted into law in 1986. The proposed FY 2007 budget also requests record level federal funding for the entire U.S. Army Corps of Engineers Civil Works program of $4.733 billion. Last year’s (FY ’06) budget request was $4.513 billion, then a record. “This FY 2007 budget demonstrates the Administration’s continued, solid understanding of the many benefits of our Nation’s critically important inland waterways system,” said R. Barry Palmer, President and CEO of Waterways Council, Inc. “It also exemplifies the goal of keeping the United States economically competitive.” The Administration’s support for Waterways Council, Inc.’s priority projects include funding for Olmsted Locks and Dam (Ohio River, IL/KY), $110 million; McAlpine Lock (Ohio River, IN/KY), $70 million; Marmet (Kanawha River, West Virginia), $50.8 million; Lower Monongahela River 2, 3 and 4 (PA), $62.8 million; Chickamauga Lock (Tennessee River, TN), $27 million, and Emsworth Dam (Ohio River), $17 million. Also approximately $50 million was allocated for five additional major rehabilitation projects on the system, Locks and Dams 11, 19, 24, and 27 (Upper Mississippi River), and Markland (Ohio River). Palmer expressed Waterways Council’s unhappiness for the proposed suspension of funding for projects not as far along in their construction cycle, such as the Inner Harbor Navigation Lock Replacement (LA) and Kentucky Lock Addition (Tennessee River, KY). “We are also disappointed that there was no request for additional funding of preconstruction engineering and design (PED) to continue Upper Mississippi River/Illinois Waterway lock and dam modernization projects. The Nation needs to move more quickly to construct these navigation improvements, as well as PED projects that, if given a fighting chance, could produce high-yield returns,” Palmer said. A critical economic generator, the Nation’s waterways transport key building-block commodities such as coal, grain, petroleum, chemicals, and aggregates that fuel the Nation’s industrial and agricultural activity. The U.S. barge and towing industry saves shippers and consumers more than $7 billion annually compared to alternate transportation modes. Also more environmentally sound, waterways transport handles cargo equal to 40 million trucks or 10 million rail cars each year.
Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Environmental

IMO Calls for Environmentally Sound Ship Recycling in Bangladesh

The  International Maritime Organization (IMO) and the government of the People’s Republic of Bangladesh are jointly implementing a project entitled “Safe and

BIMCO Welcomes EU Decision on Migrants

BIMCO has stated today that it appreciates the new efforts by EU leaders to reduce increasing reliance on merchant shipping to rescue the growing numbers of

Long Beach, Los Angeles ports host forum to gather input

More than 100 cargo owners, trucking firm leaders, longshore labor, marine terminals and other goods movement industry representatives turned out Wednesday for

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Offshore Oil Pipelines Salvage Ship Electronics Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1336 sec (7 req/sec)