WASHINGTON — The Owner-Operator Independent Drivers Association (OOIDA) has asked Congress to provide economic relief to struggling small-business truckers by suspending the Heavy Vehicle Use Tax (HVUT) for one year as part of the next COVID-19 response package.
“Truckers are still on the front lines, filling store shelves and supplying hospitals,” said Todd Spencer, president of OOIDA. “Suspending the HVUT is a way that Congress could easily offer fast, direct relief to all motor carriers. And believe me, they need it, much more than just a ‘thank you.’”
On July 30, OOIDA sent a letter to both House and Senate leadership, expressing concerns about how the economic downturn has lowered freight rates and created uncertainty for those who have put their own well-being on the line to do their jobs.
The HVUT is an annual fee for trucks weighing more than 55,000 pounds and typically costs about $550 per truck. OOIDA noted that, compared to lifting the federal excise tax (FET), suspending the HVUT for 12 months is a more immediate and equitable way to provide assistance to the trucking industry as a whole, because suspending the FET would only benefit motor carriers that are in a position to purchase new equipment.
“Congress and the American public have heaped praised on truckers for their work on the front lines of this crisis,” Spencer said. “This action would provide tangible, meaningful help to carriers of all sizes, not just those large enough to have the resources to afford new equipment in the midst of an historic economic downturn.”
To view OOIDA’s letter, click here.
The Trucker News Staff produces engaging content for not only TheTrucker.com, but also The Trucker Newspaper, which has been serving the trucking industry for more than 30 years. With a focus on drivers, the Trucker News Staff aims to provide relevant, objective content pertaining to the trucking segment of the transportation industry. The Trucker News Staff is based in Little Rock, Arkansas.
