Mr. Chair, I move to strike the last word. Mr. Chairman, I rise in opposition to this amendment. I appreciate all of the courtesies from my good friend from Montana. I understand the motivations behind this amendment, but I must speak…
Mr. Chair, I move to strike the last word.
Mr. Chairman, I rise in opposition to this amendment.
I appreciate all of the courtesies from my good friend from Montana. I understand the motivations behind this amendment, but I must speak against it because this amendment itself is a threat to the safety of Americans on the roadway.
It is counter to the goal that we all share, of protecting and preserving Social Security and Medicare, two vital safety net programs in this country; and, above all, it destroys accountability in the safety rules in the trucking industry.
Mr. Chairman, in 1980, Congress mandated that commercial motor carriers carry a minimum of $750,000 in liability coverage. This number has not been adjusted in more than 33 years. In present dollars, simply adjusting for inflation using a health care cost CPI, consumer price index, would require changing the $750,000 to $4.4 million.
In fact, I have introduced, myself, H.R. 2730, the SAFE HAUL Act to do just that, simply to adjust for inflation over the 34 years that that $750,000 limit was in place.
This past weekend, Mr. Chairman, Mr. James McNair, a talented comedian, died in New Jersey because of a tractor-trailer collision. Apparently, the tractor-trailer driver was awake for 24 hours, in violation of a myriad of hours of service requirements in the Federal Motor Carrier Safety regulations. Tracy Morgan, his associate, remains in critical condition.
To suggest that $750,000, with today's health care costs, is adequate to cover this kind of tragedy is ridiculous.
In fact, the truth is that, since 1980, more than 100,000 people have died in tractor-trailer-related collisions. We are not talking about cases where
there was a genuine dispute about who was at fault for the accident.
We are talking about cases where it was clear that the tractor- trailer was at fault for the accident and people died, more than 100,000 over the past 34 years.
Mr. Chairman, in contradistinction to the comments of my good friend from Montana, a recent study conducted by the Trucking Alliance found that 42 percent of the value of settlements paid by trucking companies between 2005 and 2011 exceeded the minimum insurance requirement of $750,000.
When you don't adjust for inflation, you are not doing the simple math that is required, and to suggest that adjustment for inflation is wrong somehow seems quite silly.
So, Mr. Chairman, what we need to realize is that, when a truck is underinsured, when a truck doesn't have enough insurance to cover the harm that it causes, who pays the difference? What happens when a truck doesn't have enough insurance to cover the harm that it causes in medical bills, in lost wages?
Well, what happens is the U.S. taxpayer picks up the difference, the U.S. taxpayer, paying into the Social Security system, paying into the Medicare system, the U.S. taxpayer picks up the difference; and what ends up happening is we get a form of corporate welfare, where trucking companies at fault for accidents that kill, maim, and disable people, all of a sudden, don't have to pick up the difference. It is the American taxpayer that picks up the difference.
In a day and age when we should be doing everything and anything that we can to shore up Social Security and Medicare, this is not a policy decision that we want to be engaging in, protecting trucking companies at fault for death-dealing accidents from accountability for their actions.
So, Mr. Chairman, I do oppose this amendment, and I yield back the balance of my time.
Mr. Chairman, I demand a recorded vote.