Trucking Tax Credit Bill Reintroduced

Bipartisan legislation to address truck driver shortages that includes a two-year refundable tax credit of up to $7,500 has been re-introduced in the U.S. House of Representatives by Abigail Spanberger (D-VA) and Mike Gallagher (R-WI).

The bipartisan Strengthening Supply Chains Through Truck Driver Incentives Act would provide a short-term, fast, and straightforward incentive to attract and retain new drivers. Specifically, the Spanberger-Gallagher bill would create a two-year refundable tax credit of up to $7,500 for truck drivers holding a valid Class A commercial driver’s license (CDL) who drive at least 1,900 hours in the year. The legislation would also establish new incentives for potential drivers to enter registered trucking apprenticeships.

According to American Loggers Council Executive VP Scott Dane, raw material transportation is the weak link in the forest products industry supply chain, which is challenged by a lack of drivers, rising fuel prices, crisis level insurance premiums, tough operating conditions and demographics.

Noting that “Virginia forest logging businesses are reporting a major shortage of qualified commercial drivers, and this is also occurring across America,” Virginia Loggers Assn. Executive Director Ron Jenkins says, adding that VLA strongly supports the legislation.