Congressional support for H.R. 2946, a bipartisan bill that would repeal the 12-percent federal excise tax on the retail sale of most heavy-duty trucks, is gaining momentum, ATD announced Wednesday.
Since the bill’s introduction, 12 members of Congress have signed on as cosponsors, the latest being Rep. John Rutherford (R-Fla.). To see the current list of cosponsors, please CLICK HERE.
In September, ATD hosted a roundtable attended by 50 individuals from all sectors of the trucking industry to build support for repealing the FET. This month, ATD Chairman Steve Parker sent letters to industry stakeholders and manufacturers requesting their endorsement for H.R. 2946. In addition to ATD, the other organizations that have endorsed H.R. 2946 include Daimler Trucks North America, Mack Trucks, NTEA – The Association for the Work Truck Industry, the Recreation Vehicle Dealers Association, the Truck and Engine Manufacturers Association, the Truck Renting and Leasing Association, the Truck Trailer Manufacturers Association and Volvo Trucks North America.
ATD says it will continue to work to generate support for FET repeal on Capitol Hill and throughout the trucking industry. Regarding the Highway Trust Fund (HTF), America’s truck dealers claim they are open to new and innovative ways to return this trust fund to becoming solvent again. That is why H.R. 2946 includes language stressing the need for Congress to consider a more reliable and consistent revenue mechanism to fund the HTF in place of the FET.
And since tax reform is the major focus for Congress this fall, and an infrastructure bill is on the congressional agenda, now is the time to generate support to ensure FET repeal is part of the tax reform debate, ATD says.
ATD urges its members to contact their member of Congress to cosponsor H.R. 2946 to help build support for this important legislation to spur sales of cleaner and safer trucks that will modernize the trucking fleet.