The American Association of Port Authorities (AAPA) has reiterated the investment needs of federal ports and waterways.
AAPA President and CEO Kurt Nagle said a 10-year $66bn investment would be needed so that seaports can accommodate expected increases in cargo volumes.
It is the same figure he mentioned in May 2017 to a panel at Infrastructure Week in Washington DC.
“Seaport cargo activity accounts for 26% of US GDP, over 23 million American jobs and generates over $320bn annually in federal. State and local taxes,” Nagle said.
His comments came days after his AAPA colleague, Port of Cleveland CEO William Friedman, had made the case to the US Senate Environment and Infrastructure Committee on Thursday.
The $66bn is for what have been identified as potential waterside and landside investments to help maximise the benefits from an anticipated $155bn in port -related capital infrastructure investment.
AAPA’s push is in anticipation of a trillion-dollar general infrastructure investment boom promised by US President Donald Trump. Also, the AAPA is making a case for the upcoming round of Water Resources Development Act (WRDA) legislation.
One of the more notable recommendations made by Friedman to the committee is that taxes on foreign freight in the Harbor Maintenance Fund (HTF) should be sent directly to the US Army Corps of Engineers for direct use in harbor improvements, rather than the money being repurposed to general appropriations as it has been.