Max Baucus: “the U.S. merchant marine is facing an uncertain future. The U.S. commercial fleet is falling behind which diminishes its…”

“the U.S. merchant marine is facing an uncertain future. The U.S. commercial fleet is falling behind which diminishes its power to protect the United States' interests abroad and at home. This is why I strongly support the Maritime Security Act of 1995, H.R. 1350. This bill would be the beginning of the rebuilding of the U.S. merchant marine fleet. It will establish a fleet of privately owned, active and military capable ships to help maintain the defense of the United States' interests. This will help maintain peace and protect cargo during times of crisis in the world. The fleet would also be updated because of the bylines in the bill which in itself would make the merchant marine stronger and allow it to continue being competitive in the world market. This bill through the building of the fleet will create jobs in many sectors of the economy. The increase in the economy will range from the workers on the ship all the way to those manufacturing the parts. The bill will also change the way that the costs of running a ship in the United States are offset. This will encourage more owners to register their ships under the U.S. flag. From the changes, old outdated regulations will be cut, such as the way to replace older vessels. This in itself will help keep costs down and help generate profits and revenues for all. This legislation is very much in our national interest. And I, therefore urge its passage.”