Senate Moves to Ease Taxes for New Trucks

The proposed 5% investment tax credit would be available to purchasers of compliant Class 7 and Class 8 trucks. To qualify for the credit, the trucks would have to be placed in service in 2007.

Introduced by Senators Gordon Smith (Republican of Oregon) and Blanche Lambert Lincoln (Democrat of Arkansas), the two worked with the American Trucking Associations and Truck Renting and Leasing Association in drafting the proposed legislation.