Bill Could Authorize Vessel Loan Guarantees

Representative Wittman (R-VA) introduced the National Shipbuilding Budget Policy Act (H.R. 5035) to authorize appropriations for the construction of vessels for the Navy and to authorize appropriations for loan guarantees for commercial vessels. The bill, if enacted into law, would authorize loan guarantees, under what is popularly known as the Title XI Program, in the amount of $60m annually through fiscal year 2015. (4/15/10).

(Bryant’s Maritime News)