Because of the committee's efforts, the Houston-Galveston Navigation Project is appropriated the full $53.5 million needed to maintain the optimal construction schedule for the deepening and widening of the Houston Ship Channel. This subcommittee had the foresight to maintain this construction schedule. By providing the necessary funds now, this project's return on investment will save taxpayers many millions of dollars in increased construction costs. Also, the Port of Houston generates $300 million annual customs fees and $213 million annually in State and local taxes, which demonstrates that the Houston-Galveston Navigation Project will more than pay for itself in the long run, both for the local taxpayers but also for the Federal taxpayers of the United States. The continued expansion of the Port of Houston is important on many levels. More than 7,000 vessels navigate the ship channel each year. The port provides 5.5 billion in annual business revenues and creates directly and indirectly 196,000 jobs.
Editor's note · Context
Discussing funding for the Houston-Galveston Navigation Project during a House floor speech.
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