Young, Cardin Introduce Bill to Repeal Outdated Federal Excise Tax on Heavy Trucks and Trailers
March 09, 2023
March 09, 2023
WASHINGTON, March 9 -- Sen. Todd Young, R-Indiana, issued the following news release:
U.S. Senators Todd Young (R-Ind.) and Ben Cardin (D-Md.) 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 any product, and at the same t . . .
U.S. Senators Todd Young (R-Ind.) and Ben Cardin (D-Md.) 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 any product, and at the same t . . .