APPROPRIATIONS COMMITTEE APPROVES $100 MILLION FOR TITLE XI PROGRAM
The Senate Appropriations Committee has approved a bill appropriating the highest level ever — $100 million — for the Maritime Administration’s Title XI shipbuilding loan guarantee program.
The committee’s action is in sharp contrast to the Bush Administration’s budget request — which was for zero funding for the upcoming fiscal year.
The bill also includes approximately $4 million to administer the program. It is expected to be called up on the Senate floor during the week of July 23.
The vote followed a letter from 38 Senators backing the $100-million funding figure.
“We are ecstatic that the Committee has approved this necessary boost to the program,” said Allan Walker, President of the Shipbuilders Council of America.