Actually it happened back in the 80’s. Can’t remember the exact year. Was done by the Reagan administration.
Mileage vs Percentage
- Thread starter rjthetightway
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Jimmy Carter, actually. The Motor Carrier Act of 1980.
In addition to trucking, railroad, air and other industries were deregulated in the last 70 and early 80.
Basically, it allowed carriers to set their own pricing instead of industry standard pricing controls (where the costs of wages and operating costs were passed to the shippers). It also lowered the barriers to entry and resulted in a doubling of licensed motor carriers from 20,000 in 1980 to 40,000 in 1990. Deregulation resulted in a general price reduction for consumer packaged goods, greater price competition, lower profit margins, along with dramatically lower freight rates and driver compensation, with most of the decline in consumer prices coming from the reduced income of truck drivers.
"I guess it's something Trump did." When in doubt, blame Trump? That's funny.
Despite deregulation, trucking is currently one of the nation's most overregulated industries.
In addition to trucking, railroad, air and other industries were deregulated in the last 70 and early 80.
Basically, it allowed carriers to set their own pricing instead of industry standard pricing controls (where the costs of wages and operating costs were passed to the shippers). It also lowered the barriers to entry and resulted in a doubling of licensed motor carriers from 20,000 in 1980 to 40,000 in 1990. Deregulation resulted in a general price reduction for consumer packaged goods, greater price competition, lower profit margins, along with dramatically lower freight rates and driver compensation, with most of the decline in consumer prices coming from the reduced income of truck drivers.
"I guess it's something Trump did." When in doubt, blame Trump? That's funny.
Despite deregulation, trucking is currently one of the nation's most overregulated industries.
I stand corrected.
Barely.
Cater signed it into law on July 1, 1980, and Reagan was elected the following November.
I don't think of Carter when I think of the 80s, either.