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Bill Targets Truck Tax- 4/30/2012
Representatives Jim Gerlach (R-Pa) and Earl Blumenauer (D-Or) have introduced H.R. 4321, the “Heavy Truck Tax Fairness Act of 2012,” which would repeal the 12% federal excise tax on trucks, tractors and trailers and replace the revenue with an increase in the federal diesel fuel tax of 6.3 cents per gallon. The elimination of the FET, payable at the time of the retail purchase of the vehicle, would likely stimulate new truck sales.
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