Bernie Moreno Questions Shipbuilders on 'Big Beautiful Bill' Impact for US Shipbuilding

Impact of the 'Big Beautiful Bill' on Shipbuilding

• 🚢 Shipbuilders advocate for a national maritime strategy, noting that China's WTO entry 25 years ago had a negative impact on global shipbuilding.
• 💡 The "One Big Beautiful Bill" is presented as having addressed key issues including energy policy, regulatory hurdles, tax policy, workforce development, and trade.
• ✅ Shipbuilders responded with a resounding "Yes" when asked if the bill was helpful in increasing shipbuilding in America.

Energy, Policy, and Competitiveness

• ⚡ Building ships at scale requires affordable, abundant, and reliable energy, with current administration policies favoring wind and solar for new power generation.
• 🚧 Regulatory policy is identified as a significant hindrance to the private sector, particularly concerning ship manning, licensing, and crew numbers, making the US uncompetitive.
• 💰 Inconsistent tax policy and high corporate tax rates disincentivize investment in American shipping.

Tariffs and Trade Strategy

• 📈 Tariffs are discussed as a potential tool to promote cargo on US ships, with a suggestion to waive tariffs on cargo carried by US vessels.
• ⚓ Incentivizing cargo on US ships is crucial, as building ships is insufficient without generating revenue for them.
• 💰 Even with programs like the Maritime Security Program, funding is insufficient to make US ships competitive.

Importance of the Great Lakes and Ohio's Role

• 🌊 Keeping the St. Lawrence Seaway open year-round is critical for maritime access to the Great Lakes.
• 🏗️ There is a need for more shipbuilding in diverse locations, drawing parallels to the submarine industrial base model.
• 📍 Ohio is presented as open for business, encouraging shipbuilding investment with a promise of a streamlined process.