A current bill to increase insurance requirements will put a strain on already struggling carriers and will likely force a lot of small carriers and owner operators 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 for commercial motor vehicles would increase to $2 million — up from $750,000.
The amendment was introduced by Representatives Chuy Garcia, a Democrat from Illinois, and Matthew Cartwright, a Democrat from Pennsylvania.
OOIDA is calling on its members to to contact their lawmakers to let them know the devastating impact the bill would have on owner operators and small carriers.
On Wednesday, June 24, OOIDA sent a letter to its members asking them to contact the following representatives:
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June 27, 2020 at 02:22AM
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Urgent: Here's How You Can Help Save Owner Operators and Small Carriers - CDLLife
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