The recently enacted "American Jobs Creation Act" gives significant tax breaks to a number of U.S. industries--including shipping.
MARINE LOG and BLANK ROME will present a senior level seminar CHANGES IN U.S. TAXATION OF SHIPPING INCOME in Stamford, Conn. on April 5 & 6, 2004
Make sure you know how the new tax rules work!
March 18, 2005
Senate approves resolution opposing DD(X) recompete
The Senate has unanimously approved a resolution opposing Navy proposals to recompete the DD(X) destroyer program. The Navy wants to award the program to just one yard and not split it between northrop Grumman Ships Systems and General Dynamics Bath Iron Works as currently agreed.
The Senate resolution, which isin the form of an amendment to a continuing resolution, was sponsored by Senators Trent Lott (R. Miss) and Susan Collins (R. Me.)
The resolution says that the Senate finds that the national security of the United States is best served by a competitive industrial base consisting of at least two shipyards capable of constructing major surface combatants.
The resolution says it is the sense of the Senate that "it is ill-advised for the Department of Defense to pursue a winner-take-all strategy for the acquisition of destroyers under the next generation destroyer (DDX) program."
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