Lawmakers to Unveil $8.2 Billion Bill That Deepens Ports Ahead of Panama Canal Expansion
House and Senate transportation leaders said they would unveil an $8.2 billion water policy bill that would approve the deepening of U.S. ports to accommodate larger ships traveling through an expanded Panama Canal next year.
The lead negotiators said they would unveil the final legislation the week of May 12. The bill would allow ports to cover the costs of harbor-deepening projects and request reimbursements for the projects when federal lawmakers approve them, according to congressional aides.
The multibillion-dollar expansion of the Panama Canal would allow ships to move across oceans with nearly three times more cargo. As of now, the largest types of ships cross the oceans via Egypt’s Suez Canal. The Panama Canal project is scheduled for completion next year. Industry observers say when that happens, supertankers will access more direct routes to ports in North America. Several U.S. ports have been scrambling to get ready to accommodate fleets of giant supertankers.
For several months, Sens. Barbara Boxer (D-Calif.) and David Vitter (R-La.), chairwoman and ranking member of the Environment and Public Works Committee, respectively, and Reps. Bill Shuster (R-Pa.) and Nick Rahall (D-W.Va.), chairman and ranking member of the Transportation and Infrastructure Committee, respectively, have met to determine how many projects they would authorize in the legislation.
“This conference report maintains ports and navigation routes for commerce and the movement of goods, provides flood control that protects lives and property, and restores vital ecosystems to preserve our natural heritage,” the lawmakers said in a joint statement.
Congress last passed a water policy bill in 2007.
