SHIPS for America Act was re-introduced last week by a variety of U.S. Senators as well as U.S. House of Representatives. In a press release from Senator Mark Kelly, a co-sponsor of the bill, said they hope this legislation will “close the gap and boost the U.S. Merchant Marine by establishing national oversight and consistent funding for U.S. maritime policy.”

Within the bill includes a goal of expanding the U.S.-flag international fleet by 250 ships in 10 years as part of a new program called the Strategic Commercial Fleet Program. As well as, expanding the U.S. shipyard industrial base by having a 25% investment tax credit for shipyard investments. It also requires that in 15 years, 10% of all cargo imported from China must be transported on U.S.-flagged vessels from 50% to 100%, as Freightwaves reports.