GOOD TIDINGS IN THE NEW YEAR

摘要

The new year brought good news to the inland waterways industry and the U.S. Army Corps of Engineers. The Consolidated Appropriations Act of 2014 (Omnibus) funding level of $5,467 billion was an increase of $748 million over the FY 2013 post-sequester enacted level for FY 2014 Energy & Water Development appropriations that fund the Corps' Civil Works mission. Within that budget, the Corps' Construction General Account received $1,656 billion and provides $163 million for the over-budget Olmsted Lock and Dam project on the Ohio River. The legislation also established a cost-sharing formula for FY14 funds for Olmsted at 75% General Funds and 25% Inland Waterways Trust Funds (IWTF). Olmsted had been funded at 50% IWTF and 50% Federal funds from the General Treasury.