Legislation to repeal the 12% federal excise tax on truck and trailer purchases and replace it with an increase in the diesel fuel tax has been introduced in the U.S. House of Representatives.
Congressmen Jim Gerlach (R-PA) and Earl Blumenauer (D-OR) introduced the bipartisan bill, H.R. 4321, on the House floor on March 29, and has been referred to the House Ways and Means Committee, of which Rep. Gerlach is a member. The bill is strongly supported by the Truck Renting and Leasing Association, the National Truck Equipment Association and others.
“TRALA members purchase between 35-40% of all new trucks and equipment in North America. Eliminating the FET would help mitigate the cost of investing in new equipment and accelerate the utilization of new environmental and safety technologies in commercial truck transportation,” the group said in a statement issued on Friday.