House Bill Seeks to Repeal Excise Tax; Increase Diesel Fuel Tax
April 9, 2012
Congressmen Jim Gerlach (R-Penn.) and Earl Blumenauer (D-Ore.) introduced a bill, H.R. 4321, that seeks to repeal the 12 percent federal excise tax on large trucks and replace it with a 6.3-cent increase in the federal diesel fuel tax. The American Trucking Associations (ATA) called on Congress to swiftly adopt the proposal, saying it would reinforce the ailing Highway Trust Fund while providing a boost to U.S. manufacturing. ATA said the measure would cut $15,000 from the cost of the average new truck, encouraging truck purchases.
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