GULF OFFSHORE 2002
June 5 & 6, 2002
Grand Casino Biloxi-Islandview Hotel
Biloxi, MS

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May 1, 2002

House panels would boost Title XI, Navy shipbuilding
The 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.

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