Marco Rubio cosponsors bill to repeal FET

On Sept. 26, U.S. Sen. Marco Rubio (R-Fla.) signed on as a cosponsor of S. 3052, a bill that would repeal the 12-percent federal excise tax on the sale of most heavy-duty trucks and trailers.

The bill, introduced by Sen. Cory Gardner (R-Colo.) in June, would repeal the 101-year-old excise tax on trucks.

“This burdensome tax is the highest excise tax that Congress levies on a percentage basis, and routinely adds between $12,000 and $22,000 to the price of new truck,” says Jodie Teuton, chairwoman of the American Truck Dealers (ATD) and vice president of Kenworth of Louisiana and Hino of Baton Rouge.

S. 3052 is similar to H.R. 2946, the “Heavy Truck, Tractor and Trailer Retail Federal Excise Tax Repeal Act,” a bipartisan House bill introduced by U.S. Rep. Doug LaMalfa (R-Calif.).

ATD urges its members to contact their member of Congress and ask them to cosponsor S. 3052/H.R. 2946. For more information on both, please CLICK HERE.

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