The U.S. Department of Transportation’s (DOT) Federal Motor Carrier Safety Administration (FMCSA) has proposed a new rule that would eliminate a quarterly financial data reporting requirement for some interstate motor carriers. The financial data reporting program originated in 1938 under the authority of the Interstate Commerce Commission (ICC). With the disbandment of the ICC in 1996, the program was transferred to DOT and later FMCSA. The financial information collected does not support any of FMCSA’s regulatory functions, and eliminating the requirement will have no impact on motor carrier safety. Once the rule becomes final, it would become the second regulatory relief action taken by FMCSA this year. On April 26, 2013, the agency announced it had eliminated a reporting regulation for interstate commercial truck and bus drivers and state licensing offices made redundant by technological advances. The Federal Register notice announcing the proposed rule is available at: http://www.gpo.gov/fdsys/pkg/FR-2013-05-24/pdf/2013-12339.pdf.
Source: FMCSA News