Truck Dealers and those in the truck repair industry just got some good news! Congress is planning to repeal the 12% federal excise tax on heavy trucks & trailers. It may be replaced with a 7.3-cents-per-gallon diesel tax increase.
The Heavy Truck Fairness Act supports that idea that new trucks have significant environmental and safety advantages. This should move Congress to reduce the current barriers to new truck acquisition.
The bill should work to stimulate financial investments in related truck technologies. In addition to taxing trucks, tractors and trailers – there will also be revisions to safety technologies such as truck rollover prevention systems and truck forward collision and lane departure warning systems.
The latest tractor trailers, heavy haulers, freightliners, low boys, reefers and semi trucks are designed to increase fuel efficiency and reduce emissions. This improved truck technology also would be present in trailer aerodynamics and lighter-weight tractors and trailers.
The Obama administration maintains that it is for legislation that will help the trucking industry, and has taken a stance against any increases in the fuel tax.
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