The publication is reproduced in full below:
FEDERAL SHIP FINANCING PROGRAM
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HON. JOHN GARAMENDI
of california
in the house of representatives
Friday, August 27, 2021
Mr. GARAMENDI. Madam Speaker, today I introduce legislation expanding the Maritime Administration's (MARAD) federal ship financing program--
commonly referred to as ``Title XI'' of the Merchant Marine Act of 1936--to include re-flagging, repair, or conversions of US-flagged civilian vessels for commercial and military purposes.
Currently, MARAD's Title XI program only provides federal loan guarantees for the construction of new civilian vessels in U.S.-based commercial shipyards or facility and equipment upgrades at those shipyards. My legislation would allow MARAD to also provide loan guarantees for corrective or preventative maintenance or re-flagging work at US-based shipyards, including to convert a commercial vessel to a more useful military configuration to carry out federal contracts.
As chairman of the House Armed Services Subcommittee on Readiness and the former ranking member of the Transportation and Infrastructure Subcommittee on Coast Guard and Maritime Transportation, I have long supported our domestic shipbuilding and U.S.-flagged international fleet.
The legislation I introduced today builds upon my work in the William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021 (Public Law 116-283), in which I helped to secure Congressional authorization for the new tanker security fleet and strengthened the military's U.S.-flagged preference for seaborne cargo contracts. It also complements my work with U.S. Senator Tammy Baldwin (D-WI) in the National Defense Authorization Act for Fiscal Year 2020 (Public Law 116-92), in which we implemented ``Buy America'' requirements for MARAD's small shipyard grant program.
Madam Speaker, American shipyards are ready, willing, and able to take on this additional work. Expanding MARAD's Title XI loan guarantee program to support that work means more well-paying jobs for American workers and better maintained vessels flagged in the United States, useful for military and commercial purposes.
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SOURCE: Congressional Record Vol. 167, No. 151
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