Seaport Provisions in Stimulus Bill Will Create Jobs, Reinvigorate Economy
Alexandria, VA (Feb. 10, 2009) - The American Association of Port Authorities is urging speedy adoption of a compromise stimulus bill that provides the greatest benefits for keeping U.S. seaports secure, competitive and sustainable. Provisions contained in the Senate-passed version of the American Recovery and Reinvestment Act of 2009 linked to improving security, air quality, efficiency and freight access to America's seaports offer the best opportunities to bolster the economy and create jobs.
"Provisions that improve freight mobility and enable America's seaports to be more efficient, productive and secure are the best investments Congress can make to reinvigorate the economy and create sustainable infrastructure and environmental programs that put people back to work immediately and over the long term," said AAPA President Kurt Nagle.
AAPA is urging Congressional conferees to adopt those provisions in both the House and Senate versions of the stimulus bill that provide funding for highways, navigation, port security, reducing diesel emissions, electrification programs and supplemental discretionary transportation grants. Furthermore, AAPA supports the two-year Alternative Minimum Tax waiver for public port authority private activity bonds, a Senate provision that adds a new tax credit bond option for capital projects under the Build America Bonds program and a provision that would make port infrastructure activities eligible for the Federal-aid Highway Program's Surface Transportation Program. AAPA has urged conferees to make the Alternative Minimum Tax waiver permanent.
Overall, the $838 billion Senate-passed bill contains nearly $40 billion in programs that could potentially enhance America's seaports, while the $819 billion House-passed bill includes about $35 billion.