Lawmakers have passed on a proposed amendment to halt controversial legislation that would more than double commercial vehicle minimum insurance requirements.
Bost Amendment 194 would have essentially erased an amendment introduced by Illinois Rep. Chuy Garcia earlier this month to increase current minimum insurance requirements for commercial vehicle drivers from $750,000 to $2 million. Garcia’s amendment has been heavily criticized by the trucking industry, who say that it could force smaller carriers to close down.
On Tuesday, the House Rules Committee chose not to vote on Bost Amendment 194, meaning that Garcia’s amendment — and the possibly devastating trucker insurance hike — stands.
Owner-Operator Independent Drivers Association (OOIDA) says that the insurance hike will harm trucking and could lead to job losses:
“This 167% increase would apply to all businesses transporting property, not just long-haul trucking operations. Its impact would be felt in many sectors of our economy that are currently working to help our nation recover from the COVID- 19 pandemic, including trucking, agriculture and the materials industries. More than doubling insurance rates for businesses engaged in trucking in the midst of an economic downturn will undoubtedly lead to the loss of even more jobs.”
OOIDA also said that Garcia’s amendment is “an unnecessary and excessive policy designed to further line the pockets of trial lawyers at the expense of truckers, farmers and manufacturers.”
OOIDA says that they’ll continue the fight to ensure that the trucker insurance hike doesn’t make it into the final highway bill.