One Alabama Congressman Wants to Help Puerto Rico By Fighting Crony Capitalism

Rep. Gary Palmer, R-Ala., recently proposed an amendment to legislation on Puerto Rico that would exempt the island from the Jones Act. The Merchant Marine Act of 1920, also known as the Jones Act, requires vessels transporting goods within the United States to be U.S.-built, U.S.-owned, and at least 75 percent U.S.-crewed. According to the U.S. government:

The intent of the coastwise laws, including the Jones Act, was to protect U.S. shipping interests. The coastwise laws are highly protectionist provisions that are intended to create a ‘coastwise monopoly’ in order to protect and develop the American merchant marine, shipbuilding, etc.

One consequence of this law has been higher prices to transport cargo within the United States. This is especially true for places like Puerto Rico that rely on waterborne transportation. Read more...