Steel traders push for more port dredging

Apr 11, 2013 | 06:19 PM |

Tags  American Institute for International Steel, AIIS, Water Resources Development Act, Harbor Maintenance Trust Fund, port dredging, John Foster, Kevin Castagnola, South Jersey Port dreging

CHICAGO — The American Institute for International Steel (AIIS), pushing for Congress to pass the Water Resources Development Act, is focused on a provision that would require the government to spend all of the funds collected through the Harbor Maintenance Tax for their intended purpose: dredging and maintaining ports.

The law’s passage "would be a major step (toward meeting) the nation’s infrastructure needs," AIIS chairman John Foster said in a statement. "Now is the time for Congress to act, as dredging has been underfunded for so long that over $7 billion has built up in the Harbor Maintenance Trust Fund. The year-after-year underfunding of this critical task has significant costs for....

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