Back It Up: August 2023 Market Report
As August ends, we say goodbye to the summer weather and prepare for the arrival of fall, along with the bustling transportation season it brings. To end the summer, Taylor Swift’s Eras tour reportedly gifted $100,000 bonuses to approximately 50 truck drivers, totaling an impressive $5 million. In stark contrast, Hurricane Idalia, a Category 3 storm, struck Florida on August 30, causing widespread destruction along the Gulf Coast.
Experts and industry stakeholders are exploring alternatives to federal regulations favoring battery-electric trucks, with Senator Pete Ricketts supporting the Flex Fuel Fairness Act, which encourages flex fuel vehicle production alongside battery EVs. Pennsylvania is simplifying the CDL skills test, effective August 28, to enhance accessibility. Meanwhile, U.S. Transportation Secretary Pete Buttigieg expands two marine highway systems, adding 250 miles to the Ohio River system and 6,500 miles of Alaskan waterways to enhance freight shipments and supply chains.