A Congressional Win (and One Pending) for Marine-industry Manufacturers

The U.S. House of Representatives recently passed the first major update on U.S. international ocean-shipping laws in more than two decades—the Ocean Shipping Reform Act—which is an important development for marine manufacturers who have been affected by ongoing supply chain and port disruptions exacerbated by the pandemic.

The Senate passed the Ocean Shipping Reform Act earlier this year, and President Biden signed the measure into law on June 16.

Bipartisan legislation, the Ocean Shipping Reform Act of 2022 (OSRA) (S.3580), introduced by Senator Amy Klobuchar (D-MN) and Senator John Thune (R-SD), is the first step toward longer-term reform to shipping laws that would strengthen America’s global competitiveness and lower costs for American consumers. OSRA provides critical updates to alleviate longstanding, systemic supply chain and port distribution issues.

The bill will stop international ocean carriers from unreasonably declining American cargo and prevent retaliation by international shipping companies against exports and importers. The recreational boating industry continues to be an economic engine, and a healthy supply-chain system is integral to supporting the industry’s continued economic growth.

For additional information or questions, contact the National Marine Manufacturers Association's director of federal government relations, Callie Hoyt, at [email protected].

Next, legislators turned up the heat on passing the Bipartisan Innovation Act, which is a key policy priority for the recreational boating industry and will will level the playing field for marine manufacturers, addressing a number of priorities for marine manufacturers, including:

• Reinstate and expand the exclusion process for Section 301 tariffs, which are currently costing marine manufacturers more than $30 million in taxes;

• Address the U.S. semiconductor shortage currently impacting and stalling the marine manufacturing process;

• Invest in American manufacturing by boosting research and development and allowing businesses to fully deduct R&D expenses in the same year they are incurred.

Industry stakeholders are invited to the industry’s grassroots advocacy platform, Boating United, and write to their members of Congress urging they level the playing field for marine manufacturers and support the Bipartisan Innovation Act.Take action here: https://www.boatingunited.org/take-action/bia/

Published by
June 16, 2022

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