On the recordMarch 3, 2010
This amendment would create a loan guarantee program to maintain the domestic manufacturing capacity for shipbuilding. With the U.S. economy still struggling to recover, manufacturing investments can have an immediate impact. Manufacturers have lost more than 2 million jobs since the recession began in December of 2007, so there is an opportunity to create a large number of jobs in the industry and to simultaneously revitalize our economy and overall global competitiveness. One area where benefits can immediately be seen is the shipbuilding industry. U.S. shipyards play an important role in supporting our Nation's maritime presence by building and repairing our domestic fleet; and the industry has a significant impact on our national economy by adding billions of dollars to U.S. economic output annually. These shipbuilding investments are vital to the United States, creating thousands of good-paying jobs across the country.
