What is the official ID of this bill?
The official print number for this legislation is S 694.
Repealing Heavy Truck Tax to Promote Cleaner, Safer Vehicles
This bill eliminates the 12% Federal retail excise tax on new heavy trucks and trailers. The goal is to significantly reduce the upfront cost of modern vehicles, encouraging trucking companies to replace older, less fuel-efficient, and more polluting trucks. This change aims to accelerate the adoption of cleaner technologies, including electric trucks.
Key points
Eliminates the 12% federal tax, saving buyers $12,000 to $22,000 per new heavy truck purchase.
Encourages faster fleet modernization, leading to improved road safety and reduced air pollution from older vehicles.
Reduces the financial barrier for adopting electric and alternative-fueled trucks, supporting the transition to zero-emission vehicles.
Status:
Expired
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