Sam Gibbons: “I support this rule. I had not wanted to use this much time to debate this rule but since we got into the merits of the…”

“I support this rule. I had not wanted to use this much time to debate this rule but since we got into the merits of the bill, I think it is appropriate that someone who is connected with the bill since its inception explain the position of the Committee on Ways and Means and the position adopted by the administration in negotiating this agreement. Mr. Speaker, there is a lot of shipbuilding business out there to be had by Americans if we can just get the rest of the world to do away with their subsidies. Here on this floor in 1981, the Congress adopted the Gramm-Latta substitute to the budget reconciliation bill and wiped out all U.S. subsidies. One tiny little subsidy, almost insignificant subsidy, survived that onslaught. There is a great obsolescence coming about on all the commercial ships that have been built in the world. The amount of shipbuilding that will be done by the rest of the world in the next few years is going to be tremendous. It is important that America get its fair share. We are very competitive in commercial shipbuilding, due largely to the value of our dollar. And we can compete, so our shipbuilders tell us, on a level playing field. That is what this agreement provides for. I began this action about 7 or 8 years ago and for the last 5 years we have been negotiating furiously with all the other shipbuilders. We wore out 4 sets of negotiators and we finally reached an agreement.”