Us Congress 2023-2024 Regular Session

Us Congress House Bill HB6724

Introduced
12/12/23  
Refer
12/12/23  

Caption

Energizing American Shipbuilding Act of 2023

Impact

The legislation is designed to bolster the American maritime industry by mandating that a portion of energy exports transit U.S.-built and flagged vessels. This could potentially lead to job creation within the shipbuilding sector and may help stimulate economic growth, as more domestic vessels would be required to meet export needs. Additionally, the bill seeks to enhance energy security by promoting the use of U.S. maritime resources. However, there are concerns regarding the operational impacts on exporters who may need to adapt to new shipping regulations or face increased costs.

Summary

House Bill 6724, known as the Energizing American Shipbuilding Act of 2023, aims to ensure that a certain percentage of natural gas and crude oil exports are transported on vessels built in the United States and documented under U.S. laws. The bill stipulates minimum percentages of exports to be carried on U.S.-flagged vessels over several years, starting with 2% for natural gas and 3% for crude oil, incrementally increasing over the following years until reaching 15% for natural gas and 10% for crude oil in later years.

Contention

There are notable points of contention surrounding the bill, particularly in relation to international trade agreements. The stipulation that exporters must use U.S.-flagged vessels could conflict with existing trade treaties that provide for unrestricted access to foreign-flagged vessels. Critics argue this could lead to legal disputes or trade disagreements. Furthermore, the requirement for domestic shipbuilding and components may raise costs and complicate logistics for companies relying on a competitive global shipping industry. Advocates of the bill maintain that the long-term benefits to domestic economic and employment factors outweigh these challenges.

Companion Bills

US SB3467

Same As Energizing American Shipbuilding Act of 2023

Previously Filed As

US SB3467

Energizing American Shipbuilding Act of 2023

US HB3151

SHIPS for America Act of 2025 Shipbuilding and Harbor Infrastructure for Prosperity and Security for America Act of 2025

US SB1541

SHIPS for America Act of 2025 Shipbuilding and Harbor Infrastructure for Prosperity and Security for America Act of 2025

US HB9467

American Energy Efficiency Act of 2024

US HB9326

Protecting American Investment in Shipbuilding Act of 2024

US HB1662

LEAP Act Leveraging and Energizing America’s Apprenticeship Programs Act

US SB4154

Energizing Our Communities Act

US SB4615

American Energy Efficiency Act of 2024

US HB3001

Modernizing America with Rebuilding to Kickstart the Economy of the Twenty-first Century with a Historic Infrastructure-Centered Expansion Act Knock Out Cancer Act MARKET CHOICE Act Justice for ALS Veterans Act of 2025 Election Day Act Let America Vote Act SAFER Schools Act of 2024 Secure And Fortify Entrances and Rooms in Schools Act of 2024 KO Cancer Act

US HB8047

Energizing Our Communities Act

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