Buyers of used trucks would not see a savings because the 12 percent federal excise tax only applies to new equipment
Washington,DC,USA -Land Line Magazine, by David Tanner -October 8, 2010: -- Calling it the Heavy Vehicle Fairness Act., a lawmaker in the U.S. House has filed a bill to eliminate the 12 percent excise tax on new trucks and trailers and replace it with a diesel tax increase of 7.3 cents per gallon. Those buying equipment could see significant savings. For other truck owners, the shift would amount to a tax increase of $1,200 per year for 100,000 miles traveled... How it affects truckers and their businesses depends on a lot of factors, which include equipment purchases, fuel surcharges and rates... According to a survey conducted by the OOIDA Foundation, OOIDA members average 100,000 miles per year and achieve about 6 mpg. That would translate to a fuel tax increase of $1,217 per year if the Blumenauer bill becomes law... The Foundation survey shows that the average cost of a new truck is $112,314. So, without a 12 percent excise tax of $13,478, the purchaser would realize significant savings... Buyers of used trucks would not see a savings because the 12 percent federal excise tax only applies to new equipment. Therefore, those equipment owners would see their taxes go up... According to the OOIDA Foundation, the median age for OOIDA members’ trucks is seven years (2003)...
* Report: U.S. transportation system failing: "A steady erosion of the social and economic foundations for American prosperity in the long run..."
Washington,DC,USA -The Washington Post, by Ashley Halsey III -October 5, 2010: ... U.S. investment in preservation and development of transportation infrastructure lags so far behind that of China, Russia and European nations that it will lead to "a steady erosion of the social and economic foundations for American prosperity in the long run"... That is a central conclusion in a report issued on behalf of about 80 transportation experts who met for three days in September 2009 at the University of Virginia. Few of their conclusions were groundbreaking, but the weight of their credentials lends gravity to their findings... The key to salvation is developing new long-term funding sources to replace the waning revenue from federal and state gas taxes that largely paid for the construction and expansion of the highway system in the 1950s and 1960s, the report said... A major increase in the federal gas tax, which has remained unchanged since it was bumped to 18.4 cents per gallon in 1993, might be the most politically palatable way to boost revenue in the short term, the report said, but over the long run, Americans should expect to pay for each mile they drive... Former secretary of transportation, Norman Y. Mineta, noted that 42 days after an eight-lane bridge collapsed into the Mississippi River in Minneapolis in 2007, a survey found that 53 percent of respondents opposed an emergency gas tax increase to pay for infrastructure repairs...(Photo by Doug Thron from krisweb: Heavy trucks traveling over wet logging roads pump fine sediment (mud) up from the roadbed to the surface, where it can wash into streams. )
* DC - Bill would provide tax credit for part of purchase of idle-technology
Washington,DC,USA -The Trucker News Services -8 Oct 2010: -- The energy act would allow tax credits ranging from $800 to $5,000 based partially on the percentage of the purchase price of an APU or other idle-reduction technology... A tax credit for half the purchase of idle-reduction technologies has been included in a bill introduced by Sen. Jeff Bingaman, D-N.M., and Sen. Olympia Snowe, R-Maine... If approved, the tax incentives are designed with a tiered approach that would help purchasers of the most efficient equipment receive more money...Labels: taxes policys
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