American Truck Dealers (ATD) Chairwoman Jodie Teuton and industry stakeholders met with Andrew Olmem, special assistant to the president for financial policy, last week to discuss H.R. 2946 and S. 3052, bills which would repeal the 12 percent federal excise tax (FET) on most heavy-duty trucks.
According to a recap issued by ATD, Teuton discussed how the FET increases the price of a new heavy-duty truck by as much as $22,000 and delays investment in new trucks, ATD notes.
ATD argues that a review of the tax is long overdue, having been enacted in 1982.
Truck dealers say FET is a complex tax to administer, given that the tax depends on customizable options for trucks that make each sale unique.