Fisheries Fuel Tax Relief Act of 2008

Mr. President, I rise to introduce a bill that will help commercial fishermen in Alaska and all over the United States offset high fuel prices by providing a temporary income tax credit for excessive fuel costs. I am pleased to have Mr. Stevens join me in introducing this important legislation.

Diesel fuel prices in Alaska and across the Nation have increased more than 50 percent over the past year. Some fishermen are reporting that they are now spending up to 70 percent of their income for fuel. This is having a devastating impact on this industry as fishermen do not have the option of passing the cost of fuel onto clients or customers, turning to alternative modes of transportation to do their jobs, or selling their product for a higher price. They can't simply increase the price of fish to offset higher fuel costs. Fish prices, in most cases, are set by the seafood processing sector and are tied to prices in the global seafood market in which Alaskan and American seafood compete.

All around the world, fishermen are responding to this crisis. They are

blockading harbors in Ireland and France, protesting at the European Union headquarters in Belgium, rioting in Italy and Spain, burning fishing boats in Thailand, and striking in Japan.

Fishermen all over the United States are staying tied to the dock, unable to make enough money from their catch to pay for the fuel. In Gloucester and Biloxi, Key West and Honolulu, Point Judith and Kodiak, fishermen simply can't afford to go fishing. And some U.S. vessels are running all the way from the Gulf of Mexico and California to Mexico to buy fuel. Even the Federal Government is cancelling fishery stock assessment surveys due to the high cost of fuel. As you can see, fishermen are getting hit from all sides right now.

When fishermen can't go fishing, they can't make their boat and permit payments. Many are simply going out of business. Fishermen are not the only ones who are concerned about the high price of fuel. The seafood processing sector also is facing higher costs for energy and many other inputs and is worried about the industry's ability to maintain a steady supply of fish. When fishermen don't leave the dock, the processors don't get their fish and a major seafood supply shortage could occur in the near future.

Some people might say that if fish stocks were healthier or fewer boats were fishing, that the industry could better deal with the increased price of fuel. But even in Alaska, where we have abundant, sustainably managed fish stocks that supply over 50 percent of the seafood in the United States, we are still suffering. The price of fuel has increased from an average of $1.80 per gallon in 2004 to $2.80 last year and diesel is now $4.50 on average.

In Alaska, we have already limited the number of vessels in most fisheries, so they are not over capitalized. We also have established many limited access privilege programs such as limited entry, individual fishing quotas, and coops, where fishermen can make choices to harvest in the most efficient and economic way. So, even though we have tried to make the fisheries much more economical, we still are being severely impacted by these high fuel prices. We are much more able to withstand these high fuel prices than regions and fisheries that have not limited the number of vessels or slowed the race for fish. But, many fisheries in Alaska, including our salmon fisheries, where over 150 million fish likely will be caught in a 2\1/2\ month season, fishermen must catch the fish while they are available. In other parts of the country, where fishermen are still racing for fish and have not limited the number of vessels participating, things must be far worse.

In order to provide temporary relief to the commercial fishermen across the country, I am introducing this legislation. If we allow the fishermen in this country to stay tied to the dock, or go out of business, we may lose a large portion of the industry. Since over 80 percent of the seafood Americans eat is imported, we simply can't afford for this to happen. We must try to assist this industry weather this storm. I believe this legislation will help us do that.

Mr. President, I rise to introduce a bill that will help commercial fishermen in Alaska and all over the United States offset high fuel prices by providing a temporary income tax credit for excessive fuel costs. I am pleased to have Mr. Stevens join me in introducing this important legislation.

Diesel fuel prices in Alaska and across the Nation have increased more than 50 percent over the past year. Some fishermen are reporting that they are now spending up to 70 percent of their income for fuel. This is having a devastating impact on this industry as fishermen do not have the option of passing the cost of fuel onto clients or customers, turning to alternative modes of transportation to do their jobs, or selling their product for a higher price. They can't simply increase the price of fish to offset higher fuel costs. Fish prices, in most cases, are set by the seafood processing sector and are tied to prices in the global seafood market in which Alaskan and American seafood compete.

All around the world, fishermen are responding to this crisis. They are

blockading harbors in Ireland and France, protesting at the European Union headquarters in Belgium, rioting in Italy and Spain, burning fishing boats in Thailand, and striking in Japan.

Fishermen all over the United States are staying tied to the dock, unable to make enough money from their catch to pay for the fuel. In Gloucester and Biloxi, Key West and Honolulu, Point Judith and Kodiak, fishermen simply can't afford to go fishing. And some U.S. vessels are running all the way from the Gulf of Mexico and California to Mexico to buy fuel. Even the Federal Government is cancelling fishery stock assessment surveys due to the high cost of fuel. As you can see, fishermen are getting hit from all sides right now.

When fishermen can't go fishing, they can't make their boat and permit payments. Many are simply going out of business. Fishermen are not the only ones who are concerned about the high price of fuel. The seafood processing sector also is facing higher costs for energy and many other inputs and is worried about the industry's ability to maintain a steady supply of fish. When fishermen don't leave the dock, the processors don't get their fish and a major seafood supply shortage could occur in the near future.

Some people might say that if fish stocks were healthier or fewer boats were fishing, that the industry could better deal with the increased price of fuel. But even in Alaska, where we have abundant, sustainably managed fish stocks that supply over 50 percent of the seafood in the United States, we are still suffering. The price of fuel has increased from an average of $1.80 per gallon in 2004 to $2.80 last year and diesel is now $4.50 on average.

In Alaska, we have already limited the number of vessels in most fisheries, so they are not over capitalized. We also have established many limited access privilege programs such as limited entry, individual fishing quotas, and coops, where fishermen can make choices to harvest in the most efficient and economic way. So, even though we have tried to make the fisheries much more economical, we still are being severely impacted by these high fuel prices. We are much more able to withstand these high fuel prices than regions and fisheries that have not limited the number of vessels or slowed the race for fish. But, many fisheries in Alaska, including our salmon fisheries, where over 150 million fish likely will be caught in a 2\1/2\ month season, fishermen must catch the fish while they are available. In other parts of the country, where fishermen are still racing for fish and have not limited the number of vessels participating, things must be far worse.

In order to provide temporary relief to the commercial fishermen across the country, I am introducing this legislation. If we allow the fishermen in this country to stay tied to the dock, or go out of business, we may lose a large portion of the industry. Since over 80 percent of the seafood Americans eat is imported, we simply can't afford for this to happen. We must try to assist this industry weather this storm. I believe this legislation will help us do that.

Mr. President, I ask unanimous consent that the text of the bill be printed in the Record.