Trent Lott: “I would also note that the authority under which the FMC took these actions, section 19 of the Merchant Marine Act…”

“I would also note that the authority under which the FMC took these actions, section 19 of the Merchant Marine Act, 1936, and the independence of the U.S. Government's international shipping oversight agency would be preserved under S. 414, the Ocean Shipping Reform Act of 1997. Under this bill, the action would be carried out by the U.S. Transportation Board, an expanded and renamed Surface Transportation Board. To those who expressed concerns that this multimodal board would be unwilling or unable to be an effective regulator of the maritime industry, I tell them to look at the Surface Transportation Board's record of making tough decisions with regard to the mergers of the largest railroads in the United States. When provided with similar maritime expertise, this combined board will certainly have the ability and willingness to protect the interests of the United States in international maritime disputes.”