A compromise in the new Water Resources Reform Development Act will require the federal government to spend all harbor maintenance taxes — a 0.125% levy on imported containers — on dredging and jetty maintenance by fiscal 2025, sources told the Journal of Commerce. Currently, about $900 million of the taxes collected go back to ports for the maintenance of their harbor depths and jetties, while another $900 million is diverted to help plug the federal budget deficit.
In addition, some ports will have the ability to use HMT funds, which normally total more than $100 per container, for non-dredging purposes, a goal they have sought for years.
Once ports’ dredging and jetty work are funded, additional dollars can be used for adjacent berth construction and disposing of dredge spoils.