Politics1 hr ago

House Passes Anti-Cargo Theft Bill Amid $18 Million Daily Losses

The House passed CORCA to curb cargo theft costing $18 million daily. The bill moves to the Senate as industry warns of rising losses.

Nadia Okafor/3 min/GB

Political Correspondent

TweetLinkedIn
House Passes Anti-Cargo Theft Bill Amid $18 Million Daily Losses
Source: TruckingOriginal source

TL;DR: The U.S. House passed the Combating Organized Retail Crime Act to curb cargo theft that costs the trucking industry $18 million each day. The bill now moves to the Senate for consideration.

The Combating Organized Retail Crime Act (CORCA) creates a unified federal response to cargo theft that often crosses state and national borders. It directs the Department of Homeland Security to lead coordination among federal, state, and local agencies.

The legislation emerged after months of industry advocacy and multiple congressional hearings. Representatives David Joyce and Susie Lee, who introduced the bill, emphasized its bipartisan nature and the need for a national strategy.

Cargo thieves steal $18 million per day from the trucking industry, imposing costs on motor carriers and consumers.

Strategic theft, which relies on deception, identity fraud, and false paperwork to divert freight, has increased by 1,500 % since 2021, according to CargoNet.

The House Judiciary Committee unanimously approved CORCA, and the full House subsequently passed the bill. Officials note that many theft rings operate overseas, using sophisticated technology to falsify documents and reroute shipments.

By establishing a federal framework, CORCA aims to give law enforcement better tools to track and dismantle organized theft rings.

Small carriers, which operate ten trucks or fewer and make up about 90 % of the industry, could see reduced losses if enforcement improves.

Consumers may feel the effect through overall higher prices for goods if theft losses are passed along the supply chain. Industry analysts estimate that an overall 10% reduction in daily theft could save carriers roughly $650 million annually. The bill’s success will depend on how quickly the Senate nationwide acts and whether the president signs it into law.

Watch for Senate debate and a potential vote in the coming weeks, which will determine if CORCA becomes law and how it affects daily theft totals.

TweetLinkedIn

More in this thread

Reader notes

Loading comments...