The FMCSA has proposed a new rule that would eliminate the requirement of reporting quarterly financial data for some interstate carriers.
The financial data reporting program began in 1938 and was under the authority of the Interstate Commerce Commission (ICC), however, in 1996, the ICC was disbanded. Â The program was then transferred to the DOT then to the FMCSA.
According to the FMCSA, the data that is collected though the financial data reporting program does not support an of the FMCSA’s functions, thus elimination of the requirement will have zero impact on motor carrier safety.
The Federal Register notice announcing the proposed rule is available at:http://www.gpo.gov/fdsys/pkg/FR-2013-05-24/pdf/2013-12339.pdf.