02 Jul CBO Trims GDP Forecast for 2020, Lifts 2021 Projection The U.S. economy will see a slightly deeper contraction this year but a bigger rebound in 2021 than previously forecast, according to updated estimates from the Congressional Budget Office. Read more...
02 Jul YRC Worldwide Receives $700 Million Federal Loan Package Less-than-truckload carrier YRC Worldwide Inc. received a $700 million federal loan in exchange for a nearly 30% share of the company. Read more...
02 Jul House Clears Extension of Small Business Loan Program to August The House gave final last-minute congressional approval July 1 to extending the popular Paycheck Protection Program for small businesses until Aug. 8, hours after the deadline for applications lapsed with more than $130 billion still available. Read more...
02 Jul Louisiana Passes Legislation Aimed at Significant Tort Reform Louisiana lawmakers have passed legislation aimed at helping the state’s truckers fight off excessive jury verdicts in court. Read more...
02 Jul House Infrastructure Bill Will Never Become Law, Rep. Sam Graves Says A $1.5 trillion infrastructure package advanced by the U.S. House of Representatives on July 1 will never be enacted into law, said the top Republican on the chamber’s transportation panel. Read more...
02 Jul Tesla Beats Delivery Expectations, Sending Shares Surging Tesla Inc. reported a sequential gain in quarterly deliveries that seemed improbable weeks ago, sending its stock surging toward Wall Street’s most bullish price target. Read more...
02 Jul FAA Concludes Three Days of Test Flights of Boeing’s 737 Max Testing of the 737 Max jetliner’s revised flight-control systems by U.S. regulators and Boeing Co. wrapped up July 1, laying the foundation for the plane’s possible return to service later this year. Read more...
02 Jul US Unemployment Falls to 11.1%; Trucking Adds 8,000 Jobs The U.S. unemployment rate fell to 11.1% in June according to the Labor Department as the economy added 4.8 million jobs and the easing of coronavirus-related restrictions allowed more businesses to reopen while bringing back some of their employees. Read more...
01 Jul House OKs $1.5 Trillion Infrastructure Plan That Impacts HOS, Insurance WASHINGTON — The Democratic-controlled House approved a $1.5 trillion plan July 1 to rebuild the nation’s crumbling infrastructure, pouring hundreds of billions of dollars into projects to fix roads and bridges, while also delaying implementation of hours-of-service revisions and increasing liability insurance minimums. Read more...
01 Jul Is Density Related to COVID-19 Infection Rates? These Experts Say No Density is not related to confirmed COVID-19 infection rates, according to a study from a team of public health and planning experts. Read more...