Transportation Secretary Ray LaHood told reporters last Thursday that the administration sent its draft bill to Capitol Hill two weeks ago. Both the House and Senate have recently stepped back from earlier talk of finalizing a bill by Memorial Day. They are now looking at sometime in June as a completion date.
Market conditions are worsening for US shippers as truck capacity tightens and fuel prices and surcharges rise. These statistics are according to the FTR Shippers’ Condition Index that dropped 48 percent.
A new Japanese government report, titled the Ministry of Economy, Trade and Industry report, is charging the country suffers from unfair practices by its trading partners, including 38 policies and measures taken by the US.
House transportation committee members filed a precautionary Federal Aviation Administration extension bill that would tide the agency over if congressional conferees fail to produce a new four-year authorization before the end of May.
Data published this week by the US Department of Commerce and the National Retail Federation (NRF) shows that retail sales are continuing a modest growth pattern. According the Commerce data, April retail sales showed a 7.6 percent increase compared to April 2010. According to the NRF, April retail sales were up 4 percent over April 2010.
– Ben Dundas, Web Analyst