Sens. Cardin, Young Introduce Bill to Repeal Outdated Federal Excise Tax on Heavy Trucks and Trailers
July 23, 2021
July 23, 2021
WASHINGTON, July 23 -- Sen. Benjamin Cardin, D-Maryland, issued the following news release on July 22, 2021:
U.S. Senators Ben Cardin (D-Md.) and Todd Young (R-Ind.) introduced the Modern, Clean, and Safe Trucks Act of 2021. The bipartisan bill would repeal the federal excise tax (FET) on heavy trucks and trailers, which was established over 100 years ago to support efforts to pay for World War I.
Today, the 12 percent FET is the highest percentage excise tax levied on . . .
U.S. Senators Ben Cardin (D-Md.) and Todd Young (R-Ind.) introduced the Modern, Clean, and Safe Trucks Act of 2021. The bipartisan bill would repeal the federal excise tax (FET) on heavy trucks and trailers, which was established over 100 years ago to support efforts to pay for World War I.
Today, the 12 percent FET is the highest percentage excise tax levied on . . .