This modest loan guarantee program has begun the revival of commercial shipbuilding in the United States. For the first time in almost 40 years, our major U.S. shipbuilders are building commercial ships for export. Environmentally safe oceangoing double-hulled oil tankers are being constructed for our domestic trades. Over a 2-year period, $1.7 billion in commercial shipbuilding orders has been generated in the United States. These commercial orders are helping to sustain our major builders of Navy ships.
Trent Lott: “This modest loan guarantee program has begun the revival of commercial shipbuilding in the United States. For the first…”
On the recordJanuary 21, 1997
Said by
Trent Lott
Source
govinfo.govEditor's note · Context
Discussing the impact of a loan guarantee program on U.S. commercial shipbuilding.
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