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  • A proposed infrastructure bill

    Just informational. This bill has been introduced to provide funding for infrastructure improvements. However one added amendment seeks to increase the insurance a carrier must provide. This may cause some small carriers, saddled with additional costs to operate, to close.

    Small Trucking Companies May Not Survive If Bill Passes
    The last year has been tough for the trucking industry — several trucking companies have closed their doors. Many of the defunct carriers cited insurance premiums as one of the factors. A current bill to increase insurance requirements will put a strain on already struggling carriers and will likely force a lot of small carriers out of business.

    The legislation is dubbed the Investing in a New Vision for the Environment and Surface Transportation in America (INVEST in America) Act and is a proposed infrastructure bill that would invest $500 billion into the nation’s highways and transportation systems over the next five years.
    The standalone bill had the support of the trucking industry; however, a new provision added to the bill called the Garcia Amendment 62 could be detrimental to the trucking industry.

    If the INVEST in America bill passes with the Garcia Amendment 62, minimum insurance premiums for commercial motor vehicles would increase to $2 million — up from $750,000.
    https://cdllife.com/2020/small-truck...f-bill-passes/
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