Latest news with #BuildingSHIPSforAmericaAct
Yahoo
30-04-2025
- Business
- Yahoo
U.S. Sen. Todd Young wants more American ships to set sail. Could Indiana benefit?
First it was chips. Now, it's ships. Indiana U.S. Sen. Todd Young on April 30 reintroduced bipartisan legislation, known as the SHIPS Act, that intends to revitalize shipbuilding in the U.S. and close the ship vessel gap between America and foreign adversaries, such as China. The SHIPS Act also intends to cut red tape for U.S. vessels participating in international commerce, provide financial incentives for domestic shipbuilding and invest in future maritime workforce jobs. The effort will make its way through Congress in two parts: the SHIPS for America Act and the Building SHIPS for America Act. Young and bipartisan colleagues Arizona Democratic Sen. Mark Kelly, California Democratic U.S. Rep. John Garamendi and Missouri Republican U.S. Rep. Trent Kelly first pitched the SHIPS Act in December 2024. The bill, which was introduced at the end of the last Congress, did not move past its initial introduction. The reintroduced SHIPS Act might have more momentum than it did four months ago, due to support from the White House and priorities of President Donald Trump's administration. In addition to imposing widespread tariffs, Trump on April 9 signed an executive order calling for the restoration of 'America's maritime dominance.' 'Our bill will revitalize the U.S. maritime industry, grow our shipbuilding capacity, rebuild America's shipyard industrial base, and support nationwide workforce development in this industry,' Young said in a statement. 'This legislation is critical to our warfighting capabilities and keeping pace with China.' The reasoning behind the SHIPS Act mirrors Young's push for the 2022 CHIPS and Science Act, which sought to boost U.S. production of semiconductors, also known as microchips. Young has long claimed that U.S. chip production will benefit the country's national security. The CHIPS Act brought significant investment to Indiana, including company SK hynix's plans to build a $3.8 billion chip packaging facility in West Lafayette. While Indiana isn't a coastal state, there could still be opportunities for investments in the Hoosier State. Indiana has ports to the south near the Ohio River and to the north on Lake Michigan, which international ships can access through the other Great Lakes. At a press availability following an April 10 event in Bloomington, Young told reporters a key way Indiana might benefit from the SHIPS Act is by producing steel or other part-manufacturers that could add to shipbuilding efforts. "On ship building, more steel comes out of U.S. Steel here in the great state of Indiana, than any other state, so there are real opportunities to provide inputs like steel," Young said on April 10. "You've got Rolls Royce and Cummins and various other component manufacturers that also employ Hoosiers and there are opportunities there should this ship-building initiative have an opportunity to become law." Contact IndyStar state government and politics reporter Brittany Carloni at Follow her on Twitter/X @CarloniBrittany. Sign up for our free weekly politics newsletter, Checks & Balances, curated by IndyStar political and government reporters. This article originally appeared on Indianapolis Star: U.S. Sen. Todd Young wants more American ships at sea. Could Indiana benefit?
Indianapolis Star
30-04-2025
- Business
- Indianapolis Star
U.S. Sen. Todd Young wants more American ships to set sail. Could Indiana benefit?
First it was chips. Now, it's ships. Indiana U.S. Sen. Todd Young on April 30 reintroduced bipartisan legislation, known as the SHIPS Act, that intends to revitalize shipbuilding in the U.S. and close the ship vessel gap between America and foreign adversaries, such as China. The SHIPS Act also intends to cut red tape for U.S. vessels participating in international commerce, provide financial incentives for domestic shipbuilding and invest in future maritime workforce jobs. The effort will make its way through Congress in two parts: the SHIPS for America Act and the Building SHIPS for America Act. Young and bipartisan colleagues Arizona Democratic Sen. Mark Kelly, California Democratic U.S. Rep. John Garamendi and Missouri Republican U.S. Rep. Trent Kelly first pitched the SHIPS Act in December 2024. The bill, which was introduced at the end of the last Congress, did not move past its initial introduction. The reintroduced SHIPS Act might have more momentum than it did four months ago, due to support from the White House and priorities of President Donald Trump's administration. In addition to imposing widespread tariffs, Trump on April 9 signed an executive order calling for the restoration of 'America's maritime dominance.' 'Our bill will revitalize the U.S. maritime industry, grow our shipbuilding capacity, rebuild America's shipyard industrial base, and support nationwide workforce development in this industry,' Young said in a statement. 'This legislation is critical to our warfighting capabilities and keeping pace with China.' SHIPS Act and the CHIPS Act The reasoning behind the SHIPS Act mirrors Young's push for the 2022 CHIPS and Science Act, which sought to boost U.S. production of semiconductors, also known as microchips. Young has long claimed that U.S. chip production will benefit the country's national security. The CHIPS Act brought significant investment to Indiana, including company SK hynix's plans to build a $3.8 billion chip packaging facility in West Lafayette. While Indiana isn't a coastal state, there could still be opportunities for investments in the Hoosier State. Indiana has ports to the south near the Ohio River and to the north on Lake Michigan, which international ships can access through the other Great Lakes. At a press availability following an April 10 event in Bloomington, Young told reporters a key way Indiana might benefit from the SHIPS Act is by producing steel or other part-manufacturers that could add to shipbuilding efforts. "On ship building, more steel comes out of U.S. Steel here in the great state of Indiana, than any other state, so there are real opportunities to provide inputs like steel," Young said on April 10. "You've got Rolls Royce and Cummins and various other component manufacturers that also employ Hoosiers and there are opportunities there should this ship-building initiative have an opportunity to become law." Contact IndyStar state government and politics reporter Brittany Carloni at Follow her on Twitter/X @CarloniBrittany.
