FOR IMMEDIATE RELEASE
Media Contact:
Summer
Marrs
Director of Communications & Public
Relations
248-479-8913
summer@ntea.com
FARMINGTON HILLS, Mich. (May 31, 2016) — Sen. Cory Gardner (R-Colo.)
introduced Senate Concurrent Resolution 40 (S.Con.Res.40), expressing opposition
toward increasing the 12-percent Federal Excise Tax (FET) on heavy trucks and
truck bodies.
Last year, House Representatives Reid Ribble (R-Wis.) and
Tim Walz (D-Minn.) introduced companion
legislation, H.Con.Res.33. Although concurrent
resolutions do not have the force of law, they can make a strong statement.
“NTEA commends the Senate on the introduction of this legislation,”
said Steve Carey, NTEA executive director. “FET is a complicated tax which
deters the purchase of the cleanest, safest and most fuel-efficient trucks. It
is a volatile, undependable funding mechanism for the U.S. highway system, and
preventing further increases to this tax is critical.”
FET is imposed on the first retail sale of heavy-duty trucks, trailers,
semitrailer chassis and bodies, and tractors — trucks with a gross vehicle
weight rating (GVWR) of more than 33,000 pounds; tractors with a GVWR of more
than 19,500 pounds and gross combined weight of 33,000
pounds or less when paired with a trailer or semitrailer; and trailers with a
GVWR of more than 26,000 pounds. The funds derived from it are deposited in the
Highway Trust Fund.
The 12-percent FET, the highest federal ad valorem excise tax (based on
the value of real estate or personal property), was first levied to help finance
World War I. S.Con.Res.40 and H.Con.Res.33
help to educate members of Congress about FET-related problems and
explain why it should not be increased.
ABOUT NTEA
Established in 1964, NTEA, the
Association for the Work Truck Industry, represents more than 1,800 companies
that manufacture, distribute, install, sell and repair commercial trucks, truck
bodies, truck equipment, trailers and accessories. Buyers of work trucks and the
major commercial truck chassis manufacturers also belong to the Association.
NTEA provides in-depth technical information, education, and member programs and
services, and produces The Work Truck Show®. The Association
maintains its administrative headquarters in suburban Detroit and government
relations offices in Washington, DC, and Ottawa, Ontario.
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