HomeCommercial Truck InsuranceWill The New Fuel Tax & Insurance Hike Destroy The Trucking Industry?

Will The New Fuel Tax & Insurance Hike Destroy The Trucking Industry?

How would a fuel tax & insurance hike impact your wallet?

With the cost of doing business increasing yearly for the trucking industry, Will the fuel tax be the one to break the semi’s back?

This year the trucking industry was expecting a 5% growth after a dismal year in 2020. Yet, Just as The trucking industry was looking to turn a corner after the Corona Virus outbreak, The politicians are now looking into also raising the Trucking insurance along with a fuel tax.

If these new laws are implemented they are expected to hurt the mom and pop Owner Operators the most.

The trucking industry consists primarily of small truck fleets, considering 93 percent of interstate motor carriers (over 500,000) operate 20 or fewer trucks.

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