US Senators Propose Repealing Heavy Truck Excise Tax
Senators Todd Young and Angela Alsobrooks introduced legislation to eliminate the federal excise tax on heavy-duty trucks to encourage the adoption of cleaner and safer models. The current tax adds up to 30,000 dollars to vehicle costs and generates 6 billion dollars annually for road repairs.
United States senators Todd Young and Angela Alsobrooks proposed a bill Tuesday to eliminate the 12% federal excise tax on heavy-duty trucks. The tax adds between $15,000 and $30,000 to the purchase price of new heavy trucks, trailers, semitrailer chassis, or tractors. Removing this levy aims to accelerate the replacement of aging, less efficient vehicles to modernize the national fleet and improve road safety.
### Modernizing the National Fleet The legislation seeks to lower the barrier for purchasing cleaner models by removing a tax that encourages operators to keep older vehicles in service. About one-fifth of the largest trucks currently in operation use engines manufactured before 2010. Young noted that the current structure serves as a deterrent to fleet modernization.
