Deeper Ports Backed by Congress Amid Panama Canal Expansion

U.S. House and Senate negotiators reached agreement on a bill that would authorize deepening several U.S. ports ahead of the expansion of the Panama Canal and the bigger ships that will use it.

The legislation -- the first such measure in seven years -- will include provisions that would let ports pay the costs of deepening harbors up front and then seek reimbursement from the government once the project is authorized by lawmakers. That could help facilities such as Port Everglades in South Florida reduce construction time by years.