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# SHIPS for America Act of 2024: Summary This comprehensive maritime legislation aims to revitalize America's shipping industry, shipbuilding capacity, and merchant marine workforce to address national security and economic concerns. The bill was introduced in December 2024 and represents the most significant maritime policy overhaul in decades. ## Core Purpose and Key Findings The legislation recognizes that the U.S. maritime fleet has dramatically declined from over 10,000 vessels during World War II to just 80 oceangoing vessels today, while China operates 1,700 commercial vessels and controls 230 times more shipbuilding capacity. The bill establishes that restoring American maritime strength is essential for national defense and economic security. ## Major Provisions ### Governance and Coordination The bill creates a Maritime Security Advisor position (presidential-level) and establishes a Maritime Security Board comprising heads of relevant federal agencies. These entities will develop and implement a National Maritime Strategy, coordinate agency efforts, and oversee strategic sealift capabilities across government. ### Financial Support for Shipbuilding and Vessels **Strategic Commercial Fleet**: Establishes a new program to support up to 250 privately-owned commercial vessels through annual operating and capital support payments. Starting with at least 10 vessels in 2027, it aims to reach 20 new vessels annually by 2030. Both newly constructed U.S.-built vessels and qualified foreign-built vessels (until 2029) are eligible. **Shipbuilding Financial Incentives**: Creates a $250 million annual program (through 2034) providing federal financial assistance to shipyards and vessel owners for vessel construction and shipyard facility improvements. The program prioritizes U.S. construction and includes provisions preventing stock buybacks by recipients. **Maritime Security Trust Fund**: Establishes a dedicated trust fund fed by maritime taxes, tariffs, and penalties to finance these programs. Total authorized appropriations exceed $12 billion over ten years. ### Cargo Preference Requirements Increases federal cargo preference from 50 to 100 percent for government-financed shipments on U.S. vessels. Establishes new requirements that at least 1-10 percent of imports from China be transported on U.S.-built, U.S.-crewed vessels (phased in over ten years). Creates the "Ship America Office" to coordinate government cargo

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