The nation needs speedy action to ease the current financial crisis, said Bill Graves, American Trucking Associations (ATA) president, urging Congress to act quickly to stabilize the US financial system.
Graves said in a statement that the economy, including trucking companies of all sizes, will benefit if Congress and the Bush Administration promptly agree on legislation to bring stability to the financial system. “Without legislation, the credit crunch will continue to worsen for our members, making it difficult for even those carriers with good credit to receive funding for capital expenditures like trucks and other equipment,” Graves said.
ATA noted that continued turmoil in the nation’s financial markets may threaten to affect insurance companies and their customers, as evidenced by the recent failure of AIG Inc. And, easing the financial crisis and its impact on pensions and retirement savings accounts is also crucial to protecting the trucking industry’s employees and their families.