John Kerry: “I thank Senator Susan Collins for her work in developing this important amendment, which will extend chapter 12…”

“I thank Senator Susan Collins for her work in developing this important amendment, which will extend chapter 12 bankruptcy protections to our family fishermen. I believe we should do everything possible to protect and preserve the small family-owned fishing businesses in this country. In 1999, American fishermen harvested 9.3 billion pounds of seafood valued at $3.5 billion dockside. The commercial marine fishing industry contributed more than $27 billion to the Gross National Product in 1999. In 1999, Massachusetts fishermen landed more than 198,000 pounds of seafood worth more than $260 million. The fishing port of New Bedford, Massachusetts ranks second nationally in terms of the value of the fishery landings in 1999 with nearly $130 million in seafood landed. These numbers sound great, but small, family-owned fishing businesses are in serious trouble. In Gloucester, America's oldest fishing port, landings declined by 9 percent in 1999 to just less than $26 million. This once proud fishing community, along with several other New England communities that borders the Gulf of Maine, have been rocked by the dramatic decline in inshore cod stocks. Gulf of Maine fishermen are feeling the pain caused by low trip limits and closed fishing areas. Massachusetts Bay, the prime fishing grounds for much of the inshore fleet, is currently closed six months of the year to allow the cod fish to rebuild.”