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Bipartisan Federal Excise Tax Repeal Bill Introduced

Representatives Doug LaMalfa (R-CA) and Collin Peterson (D-MN) have introduced a bill, H.R. 2381, that aims to repeal the federal excise tax and was applauded by several truck dealer associations that have been actively pushing for its removal.

Businesses Can Expense Up to $500K in Truck Purchases

The U.S. Internal Revenue Code, Section 179 (commonly referred to as IRC-179) allows businesses to expense up to $500,000 in the tax year 2017 for certain capital expenditures, including commercial work trucks.

Section 179 Deduction Reinstated at $500,000

The Protecting Americans from Tax Hikes Act of 2015 (PATH Act) permanently sets the Section 179 cap at $500,000. Section 179 allows businesses to deduct the cost of certain new and used property, including certain motor vehicles.

States Considering Highway Funding Options

While Capitol Hill may yet again slap an eleventh-hour cold patch on the highway-funding gap, state governments are moving ever more quickly and innovatively to put their infrastructure spending in order.

Fuel Tax Hike Unlikely, Says Congressman Shuster

Rep. Bill Shuster, chairman of the House Transportation and Infrastructure Committee, said that one of his 2015 priorities will be a highway bill – but he does not expect it to be funded by a fuel tax increase, the AP reported.