H.R. 8218 — Fair Compensation for Truck Crash Victims Act

This section declares congressional findings concerning minimum financial responsibility requirements for motor carriers under the Motor Carrier Act of 1980, including (1) Congress's intent to enhance safety through such requirements; (2) a 1979 commission recommendation for $1 million minimum insurance; and (3) inflation adjustments showing that the 1980 $750,000 level equates to $5,193,665.62 in 2020 purchasing power and $5,811,083 in 2025 purchasing power for medical-cost inflation.

This section revises minimum financial responsibility requirements for motor carriers transporting property by (1) increasing the required amount to $5 million (from $750,000); and (2) directing the Secretary of Transportation, in consultation with the Bureau of Labor Statistics, to adjust that amount every five years for inflation relating to medical care. The changes take effect one year after enactment.