Chuck Grassley: “In the managers' amendment there is a whole new program for a subsidy for the maritime industry. At 5 minutes to 9 on a…”

“In the managers' amendment there is a whole new program for a subsidy for the maritime industry. At 5 minutes to 9 on a Friday night, when we are not normally in session, before we are going to take a week's vacation, it does not seem to me that we should be passing a whole new program without some mention to the taxpayers of this country. Since January or February the whole approach to this new program has been a very careful one-man show behind the scenes to, in a stealthy way, get this program out of the authorization committee with as little attention as possible, promising as much as you could to keep people quiet. So, I rise to first of all tell the people of this country about this new program that has operating subsidies and a shipbuilding loan guarantee for the maritime industry. I oppose it because virtually every truly independent analysis of the maritime subsidies and protectionist programs have concluded that they have little or nothing to do with our defense needs. Remember, these programs of subsidies were started in the 1930's, the 1940's, the 1950's, to provide ships for our defense needs. When these programs started we had 1,100, 1,200 ships. Today we have between 250 and 300 ships. So you know the old saying, you subsidize something you get more of it? In this particular case it does not work. This ends up being a waste of the hard-earned money of America's taxpayers and consumers.”