Suspending the Federal Excise Tax through 2021 for Heavy Duty Commercial Truck Purchases - As policymakers begin debating future economic stimulus packages as part of COVID-19 recovery plans, they believe suspending the federal excise tax (FET) through the year 2021 for purchases of new heavy-duty commercial truck purchases will bring immediate and recognizable results. They also believe it will work toward restoring and expanding domestic manufacturing jobs, increasing productivity of truckers and reducing emissions for communities all over the country. Since the pandemic first began here in earnest in March, the important role of the nation’s trucking industry cannot be ignored. The men, women and trucks on the roadways have been working round the clock to stock grocery store shelves and deliver necessary medical supplies and personal protective equipment (PPE). A Much-Needed Boost Now, elected officials are presented with a big opportunity to give the trucking industry a much-needed boost by suspending the FET through 2021, which adds an average of $22,000 to the cost of a single new class-8 big rig. Consequently, this drives the price tag up exponentially, putting this type of purchase out of reach for many fleets and truckers who already operate on slim profit [...]