Invest back in US harbors: port officials
Oct 28, 2011 | 05:25 PM
| Catherine Ngai
Tags
Ports,
Jerry Bridges,
AAPA,
Long Beach,
LA,
Tacoma,
Seattle,
HMT
tax
NEW YORK — The cost of maintaining U.S. port infrastructure and the alleged misappropriation of funds earmarked for investment in the nation’s port facilities dominated the testimony presented this past week at a hearing before the House Water Resources and Environment Subcommittee of the Transportation and Infrastructure Committee.
Much of the discussion revolved around an estimated $6-billion surplus in Harbor Maintenance Trust (HMT) funds and why that money has not been spent. The HMT is a federal tax imposed on shipments of cargo in U.S. ports to underwrite dredging maintenance conducted by the U.S. Army Corps of Engineers. ....
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