Sen. Mike Lee has introduced a bill to repeal the Jones Act. It's time to rid ourselves of this antiquated law and chart a new course based on innovation and competition rather than discredited protectionism.
Unsurprisingly, two reports released last week found that the Jones Act imposes substantial economic costs on Puerto Rico. This is but the latest evidence of the harm the Jones Act has wrought upon the U.S. territory.
The Jones Act lobby is in a near panic over Puerto Rico's application for a limited waiver from the law, and is resorting to half-truths and misdirection as part of a campaign to prevent it from being granted.