From Overdrive Online.
The U.S. DOT announced Monday it has increased fines across the board for violations of federal trucking regulations.
The Federal Motor Carrier Safety Administration is required by Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015 to adjust fine amounts each year based on inflation.
A Final Rule that published in the Federal Register today, Nov. 27, makes the new fine amounts effective immediately. The 2015 Act required FMCSA and other DOT agencies to issue an initial “catch-up” adjustment, followed by annual adjustments for inflation.
The DOT, in order to find the 2018 adjustment amount, had to multiply the penalty amount by the percentage change between the October 2017 Consumer Price Index for All Urban Consumers (CPI-U) and the October 2016 CPI-U, which this year was 1.02041.
Read the full post on Overdrive Online.