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New legislation aims to repeal federal excise tax on trucks

New legislation aims to repeal federal excise tax on trucks

New legislation aims to repeal federal excise tax on trucks
(March 2017 on the national mall at the capital)

Originally introduced in 1917 to help defray the costs of World War I, the FET now stands at 12%.

Repealing the truck tax will help small businesses “invest in new equipment,” said Rep. LaMalfa.

U.S. Representative Doug LaMalfa (R-CA) introduced a bill this week that seeks to eliminate the 12% federal excise tax or “FET” most heavy-duty trucks, tractors and commercial trailers – a levy the American Truck Dealers (ATD) group claims can add anywhere from $12,000 to $22,000 to the sticker prices for such equipment.

 

New legislation aims to repeal federal excise tax on trucks

 

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