U.S. House Subcommittee Recommends $1 Billion for 2013 Dredging

Press Release
Thursday, April 19, 2012
File Kurt Nagle (Photo: AAPA).
Kurt Nagle (Photo: AAPA).

The U.S. House Energy & Water Appropriations Subcommittee, chaired by Representative Rodney Frelinghuysen (R-N.J.), today approved its fiscal 2013 funding bill for the U.S. Army Corps of Engineers, including a $1 billion draw from the Harbor Maintenance Trust Fund for maintaining America’s deep-draft navigation channels and harbors. This would be the largest regular annual appropriation for navigation maintenance.

“While still less than the need for full use of the Harbor Maintenance Tax (HMT), this funding level marks a significant achievement in AAPA’s longstanding efforts to ensure that the HMT is fully utilized to maintain our nation’s federal navigation channels at their authorized, and required, dimensions,” said AAPA President and CEO Kurt Nagle. “We appreciate the efforts of Chairman Frelinghuysen and the subcommittee for recognizing this important national priority and increasing the funding level for maintenance dredging.”
The annual revenue collected from the HMT is approximately $1.5 billion.

In recent letters to both the House and Senate budget committees, AAPA urged Congress to utilize 100 percent of the Harbor Maintenance Tax for its intended purposes, rather than allowing the money to build up in the already bloated Harbor Maintenance Trust Fund, which is estimated will contain nearly $7 billion by the end of fiscal 2013.

AAPA’s Nagle also submitted testimony to the House Energy and Water Appropriations Subcommittee in March urging full utilization of the annual tax collection. 

Last fall, AAPA Chairman of the Board Jerry Bridges, who serves as executive director of the Virginia Port Authority in Norfolk, testified before the House Transportation & Infrastructure Water Resources and the Environment Subcommittee about the importance of maintaining federal channels to prepare for 21st century trade realities. In that testimony, he stated the federal government has a unique Constitutional responsibility to maintain and improve the infrastructure which enables the flow of commerce. He went on to say that much of the infrastructure in and around our nation’s seaports has long been neglected, affecting ports’ ability to move cargo, which hurts U.S. businesses, workers and the national economy.
 

 

Email AddThis Feed Button
Maritime Reporter May 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Intelsat Jackson Receives Requisite Consents to Amend Certain Notes

Satellite service provider Intelsat S.A. announced that its subsidiary, Intelsat Jackson Holdings S.A., received the requisite consents to amend certain terms of the indenture governing its 8.

Maersk Drilling Fast Out of the Blocks in 2013

Interim financial results for Q1 2013 show a strong start to 2013 by Maersk Drilling. With an increase in profit to USD 146 million in the first quarter of 2013

China Development Bank Grants Paragon Credit Facility

Greece's Paragon Shipping Inc. obtains a $69-million credit facility with China Development Bank  to partially finance its two 4,800 TEU containerships currently under construction.

Government Update

Transportation Secretary Honors SUNY Maritime President

On Wednesday, May 22 at 10:00 a.m., U.S. Transportation Secretary Ray LaHood will present the Merchant Marine Medal for Outstanding Achievement to Rear Admiral Wendi Carpenter,

Rebuilding the Presumption of Preemption

I propose that the Legislative, Executive, Judicial Branches of the federal government should cooperatively work toward the rebuilding of the presumption in favor

Jamaica Seeks Logistics Hub Development

International investors are expressing serious interest in Jamaica’s plans to develop as a world-class logistics hub with potentially millions of dollars being

 
 
mobi | rss feeds | archive | history | articles | privacy | contributors | top news | about us | copyright