Fet suspension

[Humble pie]

Push on for Congress to suspend federal excise tax - FreightWaves

I hope this gets approved before the August recess. I am paying 20,000 in excise tax on the new truck, this would really help. It would also be a boom for new truck sales, and help restart the economy.

 

[binderdriver]

That would be a good thing if they pass it, and hopefully it would be effective immediately. I've been on the fence about buying a new truck.

 

[Electric Chicken]

Fet is only on new trucks, right? Or am I in for a shock on this old jalopy?

 

[binderdriver]

New only, unless you import a truck from canada.

 

[Humble pie]

That would be a good thing if they pass it, and hopefully it would be effective immediately. I've been on the fence about buying a new truck.

I think a lot of people would buy. That tax keeps new out of reach for some people.

 

[Mike]

Fet is only on new trucks, right? Or am I in for a shock on this old jalopy?

New

 

[Mike]

This will be. If it passes, a short term benefit for buyers. Dealers price these trucks in what the market will bring with FET included, they will simply increase their profits of this happens.

 

[Humble pie]

This will be. If it passes, a short term benefit for buyers. Dealers price these trucks in what the market will bring with FET included, they will simply increase their profits of this happens.

Not every dealer prices including FET. Most that I’ve dealt with and dealt with when buying a new trailer quote price plus fet. Some may give you total, but fet is always 12% and the paper work breaks it down.

Yes this will be short term part of a covid stimulus package

 

[Humble pie]

They’ve already done this for the aviation industry

 

[Oxbow]

They’ve already done this for the aviation industry

I wish they would do away with HVUT also. Not that much money, just another PIA paperwork chore.

 

[Mike]

Not every dealer prices including FET. Most that I’ve dealt with and dealt with when buying a new trailer quote price plus fet. Some may give you total, but fet is always 12% and the paper work breaks it down.

Yes this will be short term part of a covid stimulus package

Right, but they know the typical market, and know how much they can sell a truck for. Once that financed price is going to be lowered by a lack of FET charges, they will start pushing their sales prices up.

 

[Ruthless]

I wish they would do away with HVUT also. Not that much money, just another PIA paperwork chore.

Or UCR, or the Business Entity Tax, or the Annual Report Fee.