In 1974 when Vice President Gerald Ford succeeded to the presidency after Richard Nixon resigned, the country was in a bad economic crisis. The Arab oil shocks of 1973 led to a 300% increase in the price of oil, which translated into inflation of more than 12%.
Florida Senator Rick Scott led GOP senators in introducing the Terminating Reckless and Unnecessary Checks Known to Erode Regular Shipping (TRUCKERS) Act.