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

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 as much as $15,000 to $30,000 to the cost of a new heavy truck, trailer, semitrailer chassis, or tractor and encourages using older vehicles on the road longer. The tax raises more than $6 billion annually in revenue.