Bipartisan Senators Propose Repealing 12% Federal Excise Tax on Heavy Trucks to Boost Sales of Eco-Friendly Models

On June 3, two U.S. senators introduced legislation proposing to eliminate the 12% federal excise tax on heavy-duty trucks. The bill, co-sponsored by Republican Senator Todd Young and Democratic Senator Angela Alsobrooks, states that this tax adds $15,000 to $30,000 to the purchase price of a new heavy-duty truck, trailer, semitrailer chassis, or tractor, leading transportation companies to keep using older vehicles. Alsobrooks said the bill aims to modernize the trucking industry and encourage the adoption of newer models that are safer and more fuel-efficient.