House Bill Looks To Repeal Federal Tax on Heavy Trucks

By Go By Truck News, June 22, 2017
Income tax cut scissors as a concept

A new effort to repeal the 12% federal excise tax on most heavy-duty trucks, tractors, and trailers is being made by Rep. Doug LaMalfa (R-CA). LaMalfa sponsored the Heavy Truck, Tractor and Trailer Retail Federal Excise Tax Repeal Act of 2017 (H.R. 2946) on Tuesday, a bill that would repeal the FET on the retail sale of trucking equipment.
“The excessive 12% federal excise tax on heavy trucks adds tens of thousands of dollars to truck purchases and directly impacts the cost of food, consumer goods and other products Americans need,” Rep. LaMalfa said. “Even worse, truck owners large and small pay this tax whether a truck is driven 100,000 miles or never driven at all, forcing them to pay taxes on an investment that may not be generating any revenue. Repealing the truck tax will help small businesses invest in new equipment while jump-starting domestic manufacturing.”
The American Truck Dealers, a division of the National Automobile Dealers Association, which represents more than 1,800 U.S. commercial truck dealers, applauded LaMalfa’s bill.
“The 12% federal excise tax on heavy-duty trucks is the highest percentage rate of any federal excise tax that Congress levies, and it adds $12,000 to $22,000 to the price of a new heavy-duty truck,” said ATD Chairman Steve Parker, who is president of Maryland-based Baltimore Potomac Truck Centers. “The FET depresses new heavy-duty truck sales and delays the deployment of cleaner, safer and more fuel-efficient trucks.”
Source: National Automobile Dealers Association

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