The House Transportation and Infrastructure Committee approved legislation to reduce global warming through greater transportation efficiencies and conservation initiatives. The major freight goods movement components of House Resolution (HR) 2701, the Transportation Energy Security and Climate Change Mitigation Act of 2007, will integrate the marine highway into our Nation’s overall intermodal transportation system.
Title IV of the bill will establish a new program to promote
short sea shipping to move cargo on the Great Lakes and along our sea coasts. Loan guarantees of up to $2b will
help marine operators and
shippers construct a new class of cargo vessels suitable for short sea shipping.
The full
text of HR 2701 will be available at Library of Congress webpage within the next 24 hours.