US Ports Secure Targeted Funding
- Business & Finance
The United States ports are about to receive additional USD 36 million in funding next year as a result of an amendment that the U.S. House of Representatives passed Wednesday during consideration of the energy and water appropriations bill.
The funds have been approved to the Army Corps of Engineers and are intended for infrastructural investment including harbor improvements.
“This is a major victory for our ports, allowing them to invest in dredging, maintenance and other improvements that will enable them to operate more efficiently and remain globally competitive. Our ports help drive the economy and create good paying American jobs, and I have worked to make sure that the money collected at our ports goes back to our ports,” said Congresswoman Janice Hahn, who pushed for the amendment.
“We have succeeded in meeting the targeted funding level for 2016, and I will continue fighting to have Congress make annual increases until 100% of the Harbor Maintenance Trust Fund is used as intended to help our ports,” she added.
The investments are said to be vital as trade volumes pick up speed at US ports.