The National Waste & Recycling Association (NWRA) and several of its member companies joined with dozens of other national, state, and local organizations and companies on a letter to congressional leaders urging the suspension of the 12 percent Federal Excise Tax (FET) on the purchase of new heavy-duty trucks and trailers. The FET increases the cost of new trucks and trailers by $22,000 on average.
“Suspension of the FET would serve as an effective means to immediately spur sales of newer, cleaner trucks, which would retain jobs in the trucking sector and help rebuild our economy,” said NWRA President and CEO Darrell Smith. “We urge Congress to include this measure in future COVID-19 legislation to assist with the economic recovery.”
Truck sales in the United States are predicted to decline by 50 percent in 2020 due to the current global health crisis. In March, truck orders dropped 52 percent compared to last year. A suspension of the FET would increase sales of trucks and, in turn, save or bring back the livelihoods of almost 8 million Americans employed in jobs related to trucking.