Sending Office: Honorable Colleen Hanabusa
Sent By:
Dan.Kouchi@mail.house.gov

        Request for Signature(s)

Support $30 million for MARAD’s Federal Ship Financing Program (Title XI guaranteed loan program)

FY 19 Programmatic Request

Deadline: NOON TODAY

Current Cosigners: Larsen, Garamendi, Robert A. Brady, Vela, Lipinski, Frederica S. Wilson, Gabbard, Lowenthal, Shea-Porter, Brownley

Dear Colleagues,

We invite you to join this bipartisan letter to the THUD Appropriations Subcommittee in support of $30 million for the Maritime Administration (MARAD) Federal Ship Financing Program (Title XI guaranteed loan program). 

The Title XI program guarantees the repayment of loans to the benefit of ship owners seeking to finance or refinance U.S. flag vessels or eligible export vessels constructed, reconstructed or reconditioned in U.S. shipyards and the program encourages much
needed improvements to, including the expansion of, U.S. shipyards. 

The last enacted funding level (FY 17) of this program was $3 million, which is the typical annual appropriations provided to maintain the program.  Periodically, Congress appropriates a large sum to the Title XI account, which is kept until expended.  The
last time this program received a large sum was through the FY 2014 omnibus.  The funding provided was $38.5 million, of which $35 million would remain available until expended. 
Of the $30 million we are requesting for FY 19, we will request that $27 million be kept in the account until expended.

It is time that we replenish the Title XI account ensure our U.S. maritime industry receives our continued support.  America’s security and economic health depends on a strong merchant marine and a strong and efficient maritime freight transportation system. 

Please contact Dan Kouchi (Dan.Kouchi@mail.house.gov) or Pat Thompson (Patrick.Thompson@mail.house.gov) with any questions or if you would to sign on. 

Sincerely,

Colleen Hanabusa                               Rob Wittman
Member of Congress                           Member of Congress


Dear Chairman Diaz-Balart and Ranking Member Price,

As the House Appropriations Subcommittee on Transportation, Housing, and Urban Development considers appropriations for Fiscal Year (FY) 2019, we respectfully request this subcommittee to provide $30 million for the Maritime Administration (MARAD) Federal
Ship Financing Program (Title XI loan guarantee program).  

Expanding the financial capacity of the Title XI loan guarantee program will enable the U.S. Maritime Administration (MARAD) to promote the growth of the U.S. merchant marine.  Specifically, the Title XI program guarantees the repayment of loans to the benefit
of ship owners seeking to finance or refinance U.S. flag vessels or eligible export vessels constructed, reconstructed or reconditioned in U.S. shipyards and the program encourages much needed improvements to, including the expansion of, U.S. shipyards. 

America’s security and economic health depends on a strong merchant marine and a strong and efficient maritime freight transportation system.  To the extent MARAD can encourage U.S. shipbuilding and the expansion and modernization of our U.S. shipyards through
a robust Title XI program, the long term security and economic health of our nation is advanced.  

We urge and appreciate your consideration of this important maritime program.

Sincerely,

Related Legislative Issues

Selected legislative information:Appropriations, Transportation

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