Revitalizing American Shipbuilding and Strengthening Maritime Security
This act aims to rebuild the U.S. commercial fleet and shipyards by taxing foreign vessels, particularly from China, to fund domestic maritime infrastructure and workforce development. It mandates that a percentage of energy exports and imports from China be transported on U.S.-built and crewed ships to ensure economic and national security.
Key points
Establishment of a Maritime Security Trust Fund financed by taxes on foreign vessels to subsidize U.S. shipbuilding and infrastructure.
New mandates requiring specific percentages of LNG, crude oil, and Chinese imports to be transported on U.S. vessels.
Expanded benefits for merchant mariners, including student loan forgiveness and modernization of training facilities.
Status:
Introduced
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