Natural Resources Subcommittee Holds Hearing on Huffman Bill to Help West Coast Fishing Communities

April 03, 2014

WASHINGTON­—The House Natural Resources Subcommittee on Fisheries, Wildlife, Oceans, and Insular Affairs held a hearing on Congressman Jared Huffman's (D-San Rafael) bill to help West Coast fishing communities. The Revitalizing the Economy of Fisheries in the Pacific Act of 2013 (REFI Act), H.R. 2646, coauthored with Congresswoman Jaime Herrerra-Beutler (R-WA), would refinance a federal loan to the West Coast groundfish fishery  at today’s low interest rates and help fishermen save money. This hearing represents major progress for Huffman’s bill, and the next step is a subcommittee or full committee vote.

“The economic health of communities up and down California’s North Coast is largely dependent on the success of our local fishers. But it is becoming increasingly difficult for them to repay the interest and principal on a decade-old federal loan, putting small businesses at risk,” Congressman Huffman said. “Action on this bill is vital to the viability of the West Coast’s groundfish fleet, and I appreciate the committee consideration. There is no reason that these fishers should go out of business just because the federal government wouldn’t refinance their loan.”

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The federal loan was used to reduce the number of vessels targeting groundfish like sole, sablefish, and rockfish. This bill will allow the West Coast trawl fleet to repay the loan in full and at a manageable rate, ensuring the survival and economic vitality of this vital industry. This bill would refinance the loan at today’s low interest rates and cap the corresponding fee charged to each fishing boat at landing.  

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