Ship getting stuck because Congress stole 6 billion from port fund

[kpitcher]

The local commercial docks here are in danger of being shut down because the river needs dredging badly. A ship was stuck in Lake Michigan before it could even enter the local river for delivery. A special tax on all port shipping was set up to fund dredging of all commercial ports. It's value is over 6 billion but congress won't spend any money. This has been an ongoing battle.

A friend's family has owned one dock for decades. At this rate all 3 of the local docks will be closing by next year. If the tax wasn't there I'd say they should be allocating funds to dredge themselves. Since a tax is being taken that isn't being put to the proper use it's definitely the Fed Gov't fault.

Ship aground inspires fears
http://www.heraldpalladium.com/articles/2011/12/08/local_news/7636807.txt
(http://www.heraldpalladium.com/articles/2011/12/08/local_news/7636807.txt)

The fund has amassed a surplus of $6.28 billion, all of it now IOUs in the form of treasury bonds.

[Dr.3D]

Seems like they should end giving the tax to those who would abuse it and just use it directly to solve their problem.

[nobody's_hero]

Whaaat? Savannah, GA port needs dredgin' too! But those lobbyists up in Charleston harbor SC don't want the competition from Savannah. And now you're telling me that there's a port on the Great Lakes that needs money too?

Seriously though, I do agree with you about the fact that the tax money is not going where it's intended. Ideally these should be local/free-market issues but so long as there is a tax and the money is not going where it's intended, then the outrage is both predictable and understandable.

Hey, too bad none of these ports are located in Iraq, we'd probably be getting more money than we need. ;)


Seems like they should end giving the tax to those who would abuse it and just use it directly to solve their problem.

I've been telling people in Georgia that for a while. "Look, if we want Savannah port dredged in our lifetime then we're going to have to stop waiting around for D.C. to call us back and just do it ourselves." But they keep praying to the god of the Potomac to do something.

[specsaregood]

Related thread:
http://www.ronpaulforums.com/showthread.php?335811-Rand-Paul-and-Lindsey-Graham-introduce-Harbor-Equity-Act