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Lawmakers introduce bill to repeal Federal Excise Tax on new trucks

Two members of the US House of Representatives recently introduced legislation aimed at repealing the 12% federal excise tax on certain heavy-duty trucks, tractors and trailers. Reps. Doug LaMalfa (R-Calif.) and Collin Peterson (D-Minn.) led a bipartisan effort on April 29 to unveil the Modern, Clean, and Safe Trucks Act of 2019, which would repeal the tax. The lawmakers emphasized in...

Trade Wars and European Cars

President Trump has threatened to impose a 25% tariff on European cars imported to the United States. The United States currently imposes a 2.5% tariff on foreign cars, and a 25% tariff on foreign trucks and commercial vans, while the European Union charges as 10% tariff on cars from the United States. The President complained about the tariffs imposed by the European Union and the...

New Taxes to Support Autonomous Vehicles

The Obama Administration has proposed a budget that includes a $10-per-barrel tax on oil, the stated purpose of which is to fund autonomous cars and improve traffic. This plan would provide over $2 billion per year for research on clean transportation, autonomous vehicles, and smart vehicle technologies, as well as an additional $20 billion a year to reduce traffic.

Michigan Considering Future of Tax Credit for Auto Insurers

Lawmakers in Michigan have discovered that an administrative change in the way the state’s assigned claims program is funded is costing the state tax revenue. The assigned claims program covers medical care of people injured in auto accidents where there is no insurance coverage. Insurers doing business in Michigan are required to pay into the program to cover these claims. Because of...