NWRA urges President Trump to suspend FET through 2021

In a letter to President Donald Trump, the National Waste & Recycling Association (NWRA) joined other state and national trade associations, as well as private companies, urging the president to suspend the 12 percent Federal Excise Tax (FET) on new heavy-duty trucks and trailers until the end of 2021.

Truck sales in the United States are expected to decline by 50 percent in 2020. According to the NWRA, suspending the FET could save or bring back almost 8 million jobs.

“The FET adds $30,000 to the cost of a new truck. We believe suspending the FET will spur the sales of new, cleaner trucks that would help rebuild our economy. These trucks have the latest safety technologies that would help make our roads safer,” said NWRA President and CEO Darrell Smith.

The average age of a truck on the road is 10 years. During the COVID-19 pandemic, the U.S. has become more dependent on the trucking fleet for the delivery of goods and supplies as well as the collection and disposal of waste and recycling, the association says.