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federal excise tax

Could Suspending The Federal Excise Tax On New Trucks Promote Safer Highways?

By: Markee Bittner / Posted on: August 6, 2020

Suspension of the Federal Excise Tax (FET) could help the trucking industry tremendously through this COVID-19 recession. According to FleetOwner, in late July, Representative Chris Pappas (D-N.H.) sent a letter to the Democratic leaders of the U.S. House of Representatives calling for the suspension of the 12% FET on heavy-duty trucks and trailers to be included in the next coronavirus stimulus bill. Pappas wants the tax which can add $20,000 to a new truck’s cost off the books through 2021.

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