Rep Says HMT Fund Has $5B Surplus, Should be Used as Intended
At a June 14, 2011 House Transportation Committee Subcommittee on Coast Guard and Maritime Transportation hearing, Representative Cravaack (R) said that he was interested in how the U.S. could further utilize maritime transportation by removing barriers such as double taxation under the Harbor Maintenance Tax1. He added that he was disturbed that Congress has been unable to use all of the HMT revenues for their intended use, namely the dredging of U.S. harbors and channels. He noted that the HMT Trust Fund is presently running a $5 billion surplus.
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An official from the Maritime Administration noted that MARAD is implementing the Transportation Department’s program aimed at increasing the use of U.S. inland waterways and coastal ports to move freight (America’s Marine Highway).
1Members of the trade have previously called for the HMT to be waived for imported cargo, as they believe it is double taxation. Importers must pay both the HTS duty rate and the HMT for imported goods.
(See ITT’s Online Archives or 04/11/11 news, 11041112, for BP summary of DOT reporting on accomplishments and impediments to developing the U.S. marine highway system.)