Trucking coalition supports repeal of heavy truck tax
The Modernize the Truck Fleet, a coalition of trucking industry stakeholders – including the American Truck Dealers (ATD), American Trucking Associations and other groups – have announced their strong support for bipartisan legislation to repeal the 12% federal excise tax (FET) on the sale of heavy-duty trucks and trailers.
The bill, S. 2435, which was introduced by Sen. Todd Young (R-Ind.) and Sen. Ben Cardin (D-Md.) – both members of the tax-writing Senate Finance Committee, which has jurisdiction over transportation-related taxes – will help modernize America’s heavy-duty truck fleet and protect the 1.3 million jobs supported by the U.S. trucking industry, the group claimed. Repeal of the FET allows fleets to replace older heavy-duty trucks with newer, safer and greener trucks. The coalition is urging Congress to include the Young/Cardin legislation in the bipartisan infrastructure legislation.
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