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March 4, 2002

Title XI: Shooting for $50 million
As expected, the President's FY 03 budget request included no funds for new Title XI shipbuilding loan guarantees. It will again be up to Congress to fund the program, which is seen as vital to a meaningful level of commercial ship construction in ther U.S.

Many observers believe that the level at which the program should be funded is around $100 million, especially as the Bush Administration also proposes to slash Naval shipbuilding levels to even below the build rate of the Clinton years.

However, the shipbuilding industry looks to have set its sights on what's realistic, rather than on what's most desirable.

The SCA's Title XI Coalition, working in conjunction with the American Shipbuilding Association, is already working to build support for Title XI funding at the $50 million level next year.

Congressman David Vitter (R-LA), a member of the House Appropriations Committee's Subcommittee on Commerce, Justice, State and Judiciary sent a letter to Subcommittee Chairman Frank Wolf (R-LA) on February 12 requesting that the Subcommittee include $50 million for Title XI when it marks up CJS legislation later this year.

Additionally, the Maritime Trades Department, AFL-CIO adopted a resolution in support of the U.S. Shipbuilding Industry at its 2002 Executive Board Meeting in New Orleans, February 20- 22.

What level do YOU think Title XI should be funded at? See the Poll on our front page!