Cardin, Young Introduce Bill to Repeal Outdated Federal Excise Tax on Heavy Trucks and Trailers
March 09, 2023
March 09, 2023
WASHINGTON, March 9 -- Sen. Benjamin Cardin, D-Maryland, issued the following news release on March 8, 2023:
U.S. Senators Ben Cardin (D-Md.) and Todd Young (R-Ind.) today introduced the Modern, Clean, and Safe Trucks Act of 2023. 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% FET is the highest percentage excise tax levied on a . . .
U.S. Senators Ben Cardin (D-Md.) and Todd Young (R-Ind.) today introduced the Modern, Clean, and Safe Trucks Act of 2023. 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% FET is the highest percentage excise tax levied on a . . .