Since reaching the middle of May, without surprise the past two months have been extremely challenging during the 2020 pandemic. With multiple industries across the board being affected, businesses everywhere are seeking relief. The trucking industry has been no stranger to hard times, and the past two months have just added to the struggle. However, there may be some light at the end of the tunnel. As the country prepares to reopen, congress has a bipartisan opportunity through an infrastructure bill.
Earlier this week the United States Senate passed a nearly $500 billion coronavirus ‘Phase 3.5’ relief bill that would replenish the small business rescue program known as the Paycheck Protection Program (PPP). Along with this, $75 billion will go to hospitals to implement a nationwide COVID-19 virus testing program as well as research funding to move forward with reopening the economy. Over the past 4 weeks, more than 22 million people filed for unemployment as most of the country remains closed to slow the spread of COVID-19.
As a result of the most recent events regarding COVID-19, the American Public Transportation Association (APTA) is being negatively affected with $2 billion of direct costs as well as $14 billion in expected future revenue losses. This is causing immediate measures to be taken so that these agencies can provide important services both now and in the future. As a result, APTA is requesting that Congress aid the agencies with $16 billion in direct funding.
As we enter the end of our winter season in the Northeast, the mild winter combined with global oversupply fears has caused liquefied natural gas (LNG) prices to plummet and the worst may not be over.
To an extent, we all know what truck drivers have to face when hauling a load. It goes without saying that long hours of being behind the wheel are in the job description. Fatigue and drowsiness come with these long hours which can result in a serious and sometimes fatal accident. However, the industry is beginning to make strides in using technology to make us all safer.