To: The United States House of Representatives and The United States Senate
Protect Small Business Transportation Brokers
CONTACT YOUR SENATORS AND CONGRESSMEN IMMEDIATELY!
I would like to call attention to the House Bill H.R.7 [Report 12-397], which raise the surety bond requirement from $10,000 to $100,000. First, this proposed law affecting transportation is unrelated to the main purpose of this bill as it is a transportation matter which involves neither energy nor the infrastructure and deals only with a regulatory matter. This provision is buried on page 557 of this large bill in order to hide this important matter from those affected by its passage.
This is an attempt to corner the market on the transportation industry by discriminating against small brokerage firms not able to obtain a $100,000 Surety Bond or Trust Agreement. We are in the business of supplying small start-up brokerages with a $10,000 Trust, referred to as a BMC 85 by the FMCSA. The majority of new applicants are African-American women and other minorities as well as the small business men & women. These people are trying their best to be financially responsible and help the economy of this country
If allowed to become law, this bill will deny an entire class of citizens the opportunity to attain financial stability. This bill will make it impossible to start a business for a small sum of money. In these tough economic times, this bill will only make things harder for people to stay in business. Therefore it is imperative that each one of us contact our representative (Senator or Congressman) and let them know that this bill will cripple the small businesses ability to complete with the big brokerages.
I would like to call attention to the House Bill H.R.7 [Report 12-397], which raise the surety bond requirement from $10,000 to $100,000. First, this proposed law affecting transportation is unrelated to the main purpose of this bill as it is a transportation matter which involves neither energy nor the infrastructure and deals only with a regulatory matter. This provision is buried on page 557 of this large bill in order to hide this important matter from those affected by its passage.
This is an attempt to corner the market on the transportation industry by discriminating against small brokerage firms not able to obtain a $100,000 Surety Bond or Trust Agreement. We are in the business of supplying small start-up brokerages with a $10,000 Trust, referred to as a BMC 85 by the FMCSA. The majority of new applicants are African-American women and other minorities as well as the small business men & women. These people are trying their best to be financially responsible and help the economy of this country
If allowed to become law, this bill will deny an entire class of citizens the opportunity to attain financial stability. This bill will make it impossible to start a business for a small sum of money. In these tough economic times, this bill will only make things harder for people to stay in business. Therefore it is imperative that each one of us contact our representative (Senator or Congressman) and let them know that this bill will cripple the small businesses ability to complete with the big brokerages.
Why is this important?
Congress is set to vote on a bill that would raise the bond for a transportation broker from $10,000 to $100,000 putting thousands of small business out of work all around the country. We should be protecting and encouraging small business and entrepreneurship.