Tuesday, January 20, 2015
Senator John McCain takes aim at the shipping industry
Republican Sen. John McCain has started a campaign to do away with the Jones Act.
McCain has filed legislation to repeal the law, also known as the Merchant Marine Act of 1920, which "requires that all goods shipped between waterborne ports of the United States be carried by vessels built in the U.S. and owned and operated by Americans."
McCain called the act "an antiquated law that has for too long hindered free trade, made U.S. industry less competitive, and raised prices for American consumers."
The American Maritime Partnership, an industry trade association, issued a press release claiming the repeal of the protectionist law would "gut the nation’s shipbuilding capacity, outsource our U.S. Naval shipbuilding to foreign builders, and cost hundreds of thousands of family-wage jobs across this country."
A recent study by the U.S. Maritime Administration found that the shipbuilding and repair industry provides more than 400,000 full-time jobs and adds about $36 billion to GDP.
For more of the Daily Caller story: dailycaller.com
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