Washington, D.C. - The pain at the pump is affecting every American, however it is hitting our nation's small business truckers particularly hard.  However, help could soon be on the way, thanks to the work of Congressman Brian Baird (D-WA-03) who has introduced legislation that would provide low interest loans to truckers and other small transportation businesses struggling to keep their businesses afloat in the face of record high fuel prices.  During the month of August, Congressman Baird met with dozens of independent truckers, to discuss the problems facing the industry, and the possible solutions.

"Truckers provide the backbone of our nation's retail economy, and an alarming number of trucking and transportation businesses are going belly up, unable to afford the rising cost of fuel," said Congressman Baird.  "Even more disturbing, some are being forced to choose between paying for safety repairs, and filling the gas tank.  This legislation would provide them with a stop gap measure to help keep them, and our economy afloat."

The cost of fuel is the number one operating expense for small business truckers, often comprising as much as 60% of their annual operating costs.  Bankruptcies in the industry have soared this year, with an estimated 3,000 or more companies having filed for bankruptcy this year alone.  These bankruptcies have taken an estimated 90,000 trucks off the road; almost 5% of our nation's trucking capacity.

"Just about everything you see on store shelves was brought there by a truck. We can not just sit idly by while a significant part of our nation's economy disappears," added Congressman Baird.  "The federal government has devoted a lot of energy to backing up Wall Street in the past few days; we need to focus our attention on Main Street as well.  This bill does that."

Congressman Baird has reached out to Speaker Nancy Pelosi and asked that his legislation be included in the upcoming economic stimulus package.  Congressman Norm Dicks (D-WA-06), Congressman Peter DeFazio (D-OR -04), Congressman John Salazar (D-CO-03) , and Congresswoman Stephanie Herseth Sandlin (D-SD-At Large) have all signed on as co-sponsors.  The bill is also being enthusiastically supported by both the Northwest Log Truckers Cooperative and the Owner-Operator Independent Drivers Association (OOIDA). Read what OOIDA says about the bill.

Under the terms of Congressman Baird's legislation, transportation businesses that have suffered, or that are likely to suffer from high fuel prices would be able to apply for emergency loans through the Small Business Administration (SBA).  The loans would be capped at $250,000 dollars and would be offered under terms similar to those offered through the SBA's "essential employee" program, which allows small businesses to seek disaster assistance if one of their employees is a military reservist who gets called up to active duty.

"The economic changes we've experienced over the past few months have been nothing short of disastrous," concluded Congressman Baird. "As Congress readies a second stimulus package, this bill needs to be part of it."  

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