Tag Archives: 2003 fishing-permit buyback program

A fishing-permit buyback program has had an as-yet-undetermined effect on the health of California’s fisheries.

This month, Congress announced it would work to reduce the financial strain on commercial fishermen who participated in a federal buyback of permits and fishing boats, mostly draggers, in California back in 2003. There’s a bill in the House to refinance a buyback loan at a lower rate than the 5 percent set by the feds when the buyback was enacted. It’s welcome news for commercial fishermen—but what good did the original buyback do, if any? Read the rest here 08:47