May 1, 2002House panels would boost Title XI, Navy shipbuildingThe House Armed Services Committee today seemed set to approve two shipbuilder-friendly additions to President Bush's defense budget plan. The committee's procurement panel proposed adding $1 billion to the Navy shipbuilding budget, including $229 million to avoid a one-year delay in construction of the first CVNX-class carrier. The additional spending might also fund an additional destroyer. Meantime, the committee's Merchant Marine panel recommended $50 million for Title XI loan guarantees and $4.1 million for administrative expenses. It also proposed granting authority for the Maritime Administrator to obtain the assistance of outside independent financial analysts to look at Title XI applications in special cases.
February 5, 2003Bush still trying to kill Title XINo surprise in this part of the Bush Administration's FY 2004 budget proposal.There's just $4.5 million for the Title XI Maritime Guaranteed Loan Program in the budget request. The reason? "Consistent with the Administration's intent to eliminate corporate subsidies, no funds are requested for loan guarantees. The budget request of $4.5 million is for the administration of the existing loan guarantee portfolio."