As Congress begins looking at overall tax reform, the National Truck Equipment Association (NTEA) is ramping up its efforts to educate members of Congress on the Federal Excise Tax (FET) and opportunities for repeal.
NTEA is meeting with individual congressional representative to seek support for the concept of FET repeal via HR 2946. This repeal bill was introduced by Rep. Doug LaMalfa of California and currently has 14 bipartisan co-sponsors.
LaMalfa recently sent a letter to all members of Congress seeking additional co-sponsors and noted NTEA as a supporter of the legislation.
“Our hope is that the tax reform efforts will lead to infrastructure reform and create a recognition that highway fund revenues must be overhauled and that the FET is a poor source of revenue for highway repair and construction,” NTEA said in a release.