NTEA calls on Congress to repeal the Federal Excise Tax

NTEA calls on Congress to repeal the Federal Excise Tax

NTEA, The Association for the Work Truck Industry, commends U.S. Senators Todd Young (R-IN) and Ben Cardin (D-MD) for introducing S. 2435, the Modern, Clean, and Safe Trucks Act of 2021. This bipartisan bill would repeal the 12% Federal Excise Tax (FET) on heavy trucks and trailers.

NTEA calls on Congress to repeal the FET as a part of any upcoming infrastructure legislation. Eliminating the FET would provide Congress the opportunity to create long-term stability in the Highway Trust Fund by replacing the FET with a funding source not based on annual truck sales, NTEA says.

“NTEA is a longstanding advocate of repealing the more than 100-year-old burdensome and complex tax, and is a founding member of the Modernize the Truck Fleet coalition,” said Steve Carey, NTEA’s president and chief executive officer. “We believe repeal will help fleets to replace older and less fuel-efficient heavy-duty trucks with safer and more environmentally friendly new trucks.”

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