Hawaii Congressman Wants To Modify Jones Act [Yahoo! Finance News]
KEPPEL CORP LTD S/ADR (KPELY)
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Source: Yahoo! Finance News
U.S. Rep. Ed Case, D-Hawaii, has introduced three related bills in Congress to modify the Jones Act, saying that the law is "one of the key drivers of our astronomically high cost of living in Hawaii and other locations in our country that are not part of the continental U.S." The Jones Act is a cabotage law that requires ships moving cargo between two points in the U.S. be built in the U.S., be owned and crewed by U.S. citizens and be registered or "flagged" in the U.S. The three bills introduced by Case are: • H.R. 5500, or the Noncontiguous Shipping Competition Act, which would exempt additional noncontiguous trades within the U.S. from the Jones Act, including those between the "lower 48" and Hawaii, Alaska and Puerto Rico. With the change Chase is proposing, those three trades would be given an exemption to "coastwise" shipping laws and treated in a way that is more similar to the way shipping is regulated between the mainland U.S. and American Samoa, the Northern Mariana Islands
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