Taxing Matters

US MARAD CCF Program Extended to Container and Ro/ro Vessels

Signed into law yesterday by President Bush, H.R. 6, the Energy Independence and Security Act of 2007, achieved a highly important U.S. maritime community objective.

A highly important and long-sought objective of the U.S. maritime community became law yesterday, with President Bush’s extension of the Maritime Administration Capital Construction Fund (“CCF”) program to vessels engaged in container and roll-on/rolloff (“ro/ro”) services in projects nationwide.

Contained in the Energy Independence and Security Act of 2007, subtitle on “Green Jobs, Marine Transportation, Short Sea Transportation,” the CCF extension is expected to attract financing for a new generation of U.S. flag vessels that will “move motor vehicles from the highways to the waterways” – to reduce national diesel and gasoline consumption, help attack ever-worsening Interstate highway congestion problems, and improve air quality.

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