00:01The Subcommittee on the Coast Guard and Maritime Transportation will come to order.
00:06I ask unanimous consent that the Chairman be authorized to declare a recess at any time during today's hearing.
00:12Without objection, so ordered.
00:14I also ask unanimous consent that members not on the Subcommittee be permitted to sit with the Subcommittee at today's hearing and ask questions.
00:22Without objection, so ordered.
00:25As a reminder, if members wish to insert a document into the record, please also email it to documentsTI at mail.house.gov.
00:36I now recognize myself for the purpose of an opening statement for five minutes.
00:41We meet today to review the President's Fiscal Year 2026 budget request for the Federal Maritime Commission, or FMC.
00:50The FMC is an independent agency responsible for the regulation of ocean-borne transportation in the foreign commerce of the United States.
00:58They also protect shippers and carriers from unfair practices of foreign flag carrier alliances.
01:05The President's Fiscal Year 2026 budget request includes $40 million to fund the salaries, operations, and capital needs of the FMC.
01:15Today, we welcome our witness, Commissioner Rebecca Dye, welcome Commissioner of the Federal Maritime Commission,
01:22to discuss the President's Fiscal Year 2026 budget request, as well as the state of the ocean shipping industry
01:30and their ongoing work implementing the Ocean Shipping Reform Act of 2022, also known as OSRAH.
01:38The FMC has worked diligently since the enactment of OSRA to implement its enhanced authorities,
01:45and I look forward to hearing from Commissioner Dye today on the status of FMC's efforts.
01:51Earlier this year, the FMC announced an investigation into vessel flagging laws, regulations, and practices of foreign countries.
01:59I fear these so-called flags of convenience create unfavorable shipping conditions in the foreign trade of the United States.
02:08Many vessels conducting international trade fly flags that differ from the nation where the ownership is based.
02:14The FMC is examining whether certain flag states may have standards that provide vessels with lower costs and oversights at the expense of reliability and safety.
02:25I look forward to hearing from Commissioner Dye on the progress of the investigation.
02:30In line with President Trump's executive order to restore American maritime dominance,
02:35we are working to bolster our domestic maritime capabilities, which are paramount to both the security and economic growth of our nation.
02:44I look forward to hearing from our witnesses on how the FMC plans to make United States Maritime great again.
02:51Commissioner Dye, thank you for being here today.
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