TowBot Posted August 7, 2020 Share Posted August 7, 2020 The Owner-Operator Independent Drivers Association has asked Congress to provide economic relief to small-businesses by suspending the Heavy Vehicle Use Tax (HVUT) for one year as part of the next COVID-19 response package. 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 the trucking industry. The HVUT is an annual fee that typically costs about $550 per truck. The association points out that compared to the federal excise tax (FET), the HVUT is a more immediate and equitable way to provide assistance since suspending the FET would only benefit motor carriers 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,” said Spencer. “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.” The Owner-Operator Independent Drivers Association is the largest national trade association representing the interests of small-business trucking professionals and professional truck drivers. Source: Owner-Operator Independent Drivers Association press release. View the full article and more on TowTimes.com Quote Link to comment Share on other sites More sharing options...
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