US lawmakers propose ending 12% excise tax on heavy-duty trucks

Alsobrooks said the bill supports "a modern trucking industry allowing ​for the adoption of newer trucks that ⁠are safer and more fuel-efficient." The tax raises more than $6 billion ⁠annually ​that is dedicated to building and repairing roads.

Two ​U.S. senators on Tuesday proposed ending the 12% federal excise ‌tax on heavy-duty trucks, saying it could boost sales of newer, cleaner models. Republican Senator Todd Young and ‌Democratic Senator Angela Alsobrooks noted the tax adds $15,000 ‌to $30,000 to the cost of a new heavy truck, trailer, semitrailer chassis or tractor and encourages continued use of older ⁠vehicles.

About ​one-fifth of ⁠the largest trucks on the road have engines produced before ⁠2010. Alsobrooks said the bill supports "a modern trucking industry allowing ​for the adoption of newer trucks that ⁠are safer and more fuel-efficient."

The tax raises more than $6 billion ⁠annually ​that is dedicated to building and repairing roads. Congress has struggled for years to find new ⁠revenue for road repairs. Truckers are also facing sharply ⁠higher diesel ⁠costs due to the price spike following the start of the Iran war.