Hunter Truck participates in Capitol Hill discussions on excise tax

Representative Mike Doyle (D-PA) at right, with Nancy Hunter Mycka and Mike Joyce.Representative Mike Doyle (D-PA) at right, with Nancy Hunter Mycka and Mike Joyce.

On June 20-21, 2018, Hunter Truck participated in a legislative fly-in in to Capitol Hill to support the repeal of the Federal Excise Tax imposed on the sale of new, heavy-duty trucks and trailers.

“The FET on a heavy-duty truck is the highest excise tax on any commodity in the U.S.,” says Nancy Hunter Mycka, executive vice president of Hunter Truck. “After factoring in Heavy Vehicle Use Tax, Tire, Tax, Licensing, State Sales Tax, and Motor Fuel taxes, a buyer could have purchased another truck in taxes alone.”

The Federal Excise Tax was initially imposed in 1917 as a way to fund World War I. Since then, the FET on new, heavy-duty trucks, tractors, and trailers has grown from 3 percent to 12 percent and in the eyes of more commercial truck dealers has become burdensome to purchasers.

Nancy Hunter Mycka was one of 38 heavy-duty truck dealers to travel to Washington, D.C. to participate in two days of meetings to garner support for the S. 3052 and H.R. 2946 bills.

“With the help of American Truck Dealer (ATD) we hope to find a bi-partisan solution to migrate the Federal Excise Tax from a purchase tax to a use tax that would be repaid over a period of time,” she says.

Learn how to move your used trucks faster
With unsold used inventory depreciating at a rate of more than 2% monthly, efficient inventory turnover is a must for dealers. Download this eBook to access proven strategies for selling used trucks faster.
Used Truck Guide Cover