Lower Inflation by Repealing the Jones Act

Published February 28, 2023

The Jones Act is a federal law that requires all goods transported by water between US ports to be carried on vessels built, owned, and operated by Americans. In practice, it benefits the domestic shipping industry at the expense of consumers. Repealing the Jones Act would reduce energy costs and help offset inflation.

Discussion Questions:

1. Is there an argument for why the Jones Act shouldn’t be repealed? 
2. Does the Jones Act have any effect other than increasing the cost of shipping?

Additional Resources:

• Read “Waive the Jones Act to Get the Supply Chain Flowing Again,” by Kevin Hassett and Timothy Fitzgerald via theWall Street Journal. Available here.
• Read “The Ten Steps of Stagflation,” by Kevin Hassett via National Review. Available here.
• Watch “Fiscal Policy and Inflation,” with John Cochrane. Available here.