Senate Finance Committee News

The U.S. state of Alaska is so far distant from the worst medical ravages of the coronavirus pandemic, but its economy is in critical condition. Alaska is especially vulnerable because it depends on oil, tourism and fisheries – basic industries that are reeling from the global coronavirus pandemic – and the state government gets most of its revenue from investment earnings that have now evaporated."Alaska is experiencing a perfect storm, a most terrible trifecta, the hat trick from hell," said state Senator Natasha von Imhof, co-chair of the Senate Finance Committee, at a hearing Saturday.

Maryland state lawmakers have passed the Clean Energy Jobs Act (CEJA) of 2019, which would incentivize the development of 1.2 GW of additional offshore wind energy off the coast of Maryland.US Wind Country Manager Salvo Vitale testified last month before the Senate Finance Committee and House Economic Matters Committee urging passage of the legislation while citing the significant economic benefits that the legislation would make possible by incentivizing the development of 1,200 MegaWatts of additional offshore wind energy off the coast of Maryland."The benefits are many and will prove transformational to Maryland's economy: 5,000-7…

China accused the United States of bullying and warned it would hit back after the Trump administration raised the stakes in their trade dispute, threatening 10 percent tariffs on $200 billion of Chinese goods.China's commerce ministry said on Wednesday it was "shocked" and would complain to the World Trade Organisation, but did not immediately say how it would retaliate. In a statement, it called the U.S. actions "completely unacceptable".The foreign ministry described Washington's…

Twelve Pacific Rim countries on Monday reached the most ambitious trade pact in a generation, aiming to liberalize commerce in 40 percent of the world's economy in a deal that faces skepticism from U.S. lawmakers. The Trans-Pacific Partnership (TPP) pact struck in Atlanta after marathon talks could reshape industries, change the cost of products from cheese to cancer treatments and have repercussions for drug companies and automakers. Tired negotiators worked round the clock over the weekend to settle tough issues such as monopoly rights for new biotech drugs.

“The prosperity of the United States is inextricably entwined with that of the rest of the world and international trade agreements provide stability and equity enabling increased trade,” said American Association of Port Authorities (AAPA) President and CEO Kurt Nagle in support of the Bipartisan Congressional Trade Priorities and Accountability Act of 2015 (TPA-2015), which the Senate just approved and the House approved on June 18. He added, “Port cargo activity accounts for over a quarter of the U.S. economy and provides more than 23 million American jobs. As the unified and recognized voice of seaports in the Americas, AAPA has both independently, and in partnership with the Trade Benefits America coalition, strongly urged federal lawmakers to make TPA-2015 a priority.

'Move America Act of 2015' would help fund landside improvements to U.S. The American Association of Port Authorities (AAPA)—the unified and recognized voice of seaports in the Americas—publicly voiced support for the bi-partisan Move America Act of 2015 infrastructure bonding and credits legislation introduced today in Congress by Senate Finance Committee Ranking Member Ron Wyden (D-Ore.) and Senator John Hoeven (R-N. Dak.). The Move America proposal would provide more tax-exempt financing for public-private partnerships…

Collaboration is a wonderful thing. And in Washington, DC, it seems to be a concept that has become more alien than ever before, with partisan politics that have gripped the nation’s capital. But teamwork is alive and well in the inland waterways industry when it comes to supporting the concept of increasing the amount of investment raised for lock and dam infrastructure on the inland system. Since 1986, commercial inland towing operators have been paying a user fee of 20-cents-per-gallon of fuel used while operating on the inland system that is deposited into the Inland Waterways Trust Fund (IWTF). Those monies are then matched by General Treasury dollars and spent for the purpose of new construction and major rehabilitation work on the inland waterways.

U.S. Senator Bob Casey (D-Pa.) and Congressman Ed Whitfield (R-Ky.) will receive the 13th Annual Waterways Council, Inc. Leadership Service Awards on Wednesday evening, February 12, 2014 at the St. Regis Hotel in Washington, D.C. Senator Casey has served the Commonwealth of Pennsylvania in the Senate since 2007. He is a member of the Senate Finance Committee and Chairman of the Subcommittee on Fiscal Responsibility and Economic Growth. He also serves on the Senate Committees on Health…

Senator Chuck Grassley (R-IA) will receive the Ninth Annual Waterways Council, Inc. Leadership Service Award on Wednesday, February 24, 2010, at 6 p.m. at the W Hotel, Washington, DC. As one of the principal leaders in the effort to get the Navigation and Ecosystem Sustainability Program (NESP) authorized in the Water Resources Development Act (WRDA) of 2007, Senator Grassley will be honored for his strong support for the improvement of the Nation’s ports and commercial inland waterways system…

A proposed state energy bill that supports oil and natural gas exploration off the Virginia coast was approved by a House subcommittee, lending more momentum to advocates seeking to lift an offshore drilling ban. The U.S. Department of the Interior targeted Virginia because of its willingness to entertain renewed offshore activity. Most other coastal states, including North Carolina, have said they want to leave the moratorium in place, imposed in 1990 because of environmental concerns. Anti-drilling lobbying groups said the proposal is all about leverage and that the oil industry of using Virginia to break the coastwide moratorium so that richer reserves off New England and North Carolina’s Outer Banks might be accessible. The state energy bill, sponsored by Sen. Frank W.