Rep. Stansbury Passes Critical Bill to Lower Costs for New Mexicans and Small Businesses
Rep. Stansbury’s vote to pass The Ocean Shipping Reform Act continues her work to lower prices for working families across New Mexico.
WASHINGTON – Last night, U.S. Representative Melanie Stansbury (N.M.-01) passed bipartisan legislation to cut costs for New Mexico’s families and small businesses. The Ocean Shipping Reform Act will crack down on the exorbitant fees that international shipping companies are charging to transport the basic goods that New Mexico businesses and consumers need. Previously passed by the Senate, this legislation now heads to the President’s desk.
“Exorbitant fees being charged by international shipping companies have raised the cost of everyday necessities such as fuel, food, and other resources for families and businesses across New Mexico,” said Rep. Stansbury. “Voting to pass the Ocean Shipping Reform Act is just one of the ways that I am working hard to address the global trend of rising costs to make life easier for New Mexico’s small businesses and communities.”
Foreign-based shipping companies have driven up costs by impeding the ability of New Mexican farmers and small businesses to get their products to market. Exporters and importers continue to face unpredictable shipping itineraries, rising freight costs and even refusal by shipping companies to carry American cargo.
The Ocean Shipping Reform Act will help level the playing field by empowering the Federal Maritime Commission (FMC) to strengthen oversight of the shipping market and lower costs for consumers. This legislation will boost funding for the FMC and implement several key measures:
- Combating exorbitant shipping costs by strengthening FMC enforcement action against exploitative business practices.
- Ensuring fairness in shipping by improving transparency and prohibiting ocean carriers from unreasonably refusing to transport American cargo.
The Ocean Shipping Reform Act has been endorsed by a broad coalition of trade groups, including the National Association of Manufacturers, American Association of Exporters and Importers, National Retail Federation, Association of Food Industries and Consumer Technology Association.
The passage of this legislation builds on Rep. Stansbury’s ongoing work to strengthen supply chains and bring down costs for working families across New Mexico. Rep. Stansbury previously voted to pass the Consumer Fuel Price Gouging Prevention Act to combat excessive industry gas price hikes. Earlier this year, Rep. Stansbury secured her critical STEM innovation bill in the America COMPETES Act to strengthen the United States’ broken supply chains, support U.S. competitiveness, and prevent good shortages. Later this week, the House will vote on the Lower Food and Fuel Costs Act to slash prices in the grocery aisle and at the gas pump by supporting our farmers and ranchers.