New legislation aims to repeal federal excise tax on trucks
Originally introduced in 1917 to help defray the costs of World War I, the FET now stands at 12%.
U.S. Representative Doug LaMalfa (R-CA) introduced a bill this week that seeks to eliminate the 12% federal excise tax or “FET” most heavy-duty trucks, tractors and commercial trailers – a levy the American Truck Dealers (ATD) group claims can add anywhere from $12,000 to $22,000 to the sticker prices for such equipment.
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Source:: http://fleetowner.com/regulations/new-legislation-aims-repeal-federal-excise-tax-trucks
