Questions Remain Despite DPW Announcement of Sale

Questions Remain Despite DPW Announcement of Sale

"The American taxpayer should not pay one dime to subsidize the sale of DPW's U.S. port operations"

March 15, 2006

(Washington, DC) -- While the announcement by DPW to sell its U.S. port operations within the next six months is a positive step, Rep. Wasserman Schultz is deeply concerned by a report in the Financial Times that losses resulting in the sale of the ports might be subsidized by the U.S. government.

"I am happy that DPW plans to complete the sale to a U.S. company within six months, however, I am gravely concerned by suggestions that DPW expects to not lose money on the sale and that they are expecting U.S. government assistance in completing the deal," said Rep. Wasserman Schultz. "The American taxpayer should not pay one dime to subsidize the sale of DPW's U.S. port operations."

Additionally, Rep. Wasserman Shultz rejected Republican claims that Democrats simply want to throw "money at the problem."

"The notion that Democrats just want to throw money at our ports is outrageous when you consider that three years ago the Coast Guard said that they needed $7.2 billion for port security measures and the Republican Congress has only given them $910 million since 9/11," said Rep. Wasserman Schultz.

http://www.house.gov/apps/list/press/fl20_schultz/DPWsubsidy.html