H.R. 2819: Deregulating Restrictions on Interstate Vehicles and Eighteen-wheelers Act

This bill, known as the Deregulating Restrictions on Interstate Vehicles and Eighteen-wheelers Act, aims to change regulations regarding speed limiting devices on large vehicles. Here are the key points of the legislation:

Short Title

The bill is formally titled the "Deregulating Restrictions on Interstate Vehicles and Eighteen-wheelers Act" or "DRIVE Act".

Prohibition on Speed Limiting Devices

The main provision of the bill is to prohibit the Administrator of the Federal Motor Carrier Safety Administration (FMCSA) from requiring that certain large vehicles—specifically, those with a gross vehicle weight of more than 26,000 pounds and operating in interstate commerce—be equipped with speed limiting devices. These devices are typically installed to cap the maximum speed that a vehicle can drive, aimed at enhancing safety by reducing the risk of accidents caused by high speeds.

Implications

• The bill effectively removes regulatory authority from the FMCSA regarding speed limits mandated for large interstate trucks.
• Without the requirement for speed limiting devices, truck operators may have more flexibility in regulating their vehicle speeds.
• This could potentially lead to increased speed limits on highways where these vehicles operate, depending on the choices made by fleet operators.

Objectives

The bill may be seen as an effort to reduce regulatory constraints on the trucking industry, which could be advocated for on the grounds of enhancing efficiency and competitiveness in freight transport.

Relevant Companies

• UPS (United Parcel Service) - As a major shipping and logistics company that operates a large fleet of trucks, changes in speed regulations could affect their delivery times and overall logistics strategy.
• FDX (FedEx Corporation) - Similar to UPS, FedEx operates a substantial number of trucks for freight and parcel delivery. Adjustments to speed regulations may impact their operational efficiency and scheduling.
• CMI (Cummins Inc.) - A manufacturer of diesel engines and power solutions for large vehicles. Changes in speed regulations could influence demand for their products among truck operators who might choose to enhance performance without speed limits.