Many NTEA member companies are well aware of the problematic administrative and economic issues associated with the Federal Excise Tax (FET). It adds significant cost to the purchase of a new truck, and it can be overly complex to calculate. In fact, NTEA publishes a 165-page Federal Excise Tax Guide for the Work Truck Industry. No industry-specific tax should be so complicated as to require such a lengthy compliance guide.
NTEA calls on Congress to repeal the FET. Its elimination would provide Congress the opportunity to create long-term stability in the Highway Trust Fund by replacing it with a funding source not based on annual truck sales.
For questions regarding FET repeal, contact NTEA senior vice president and government relations expert, Mike Kastner.
Contact your U.S. Legislators