Business View Magazine | January 2021

8 BUSINESS VIEW MAGAZINE JANUARY 2021 billion in additional funds annually for harbor maintenance needs from the existing balance of the HMTF. When combined with the CARES Act, WRDA 2020 provides a total of $3.5 billion to $4 billion in annual spending on port maintenance. Importantly, the bill provides more equitable allocation of harbor maintenance expenditures, while addressing the ongoing needs of the nation’s largest energy-transfer and commercial strategic seaports. The bill also invests additional federal resources in the construction of inland waterway projects, which are often connected to terminals. “ILTA applauds Congress for making port, harbor and inland waterway infrastructure investment a priority by including it in the broad federal spending and coronavirus relief bill. We urge President Trump to sign this legislation into law.” Founded in 1974, the International Liquid Terminals Association represents more than 85 companies operating liquid terminals in all 50 states and in over 40 countries. Our members’ facilities provide critical links between all modes of transportation for liquid commodities, such as crude oil, petroleum products, chemicals, renewable fuels, fertilizer, vegetable oils and other food-grade materials that are central to the U.S. economy. Terminals provide essential logistics services that spur trade both within the United States and connect the U.S. economy with overseas markets. ILTA’s membership also includes about 400 companies that supply equipment and services to the terminal industry. When combined with the CARES Act, WRDA 2020 provides a total of $3.5 billion to $4 billion in annual spending on port maintenance