Refundable Tax Credit For Truck Drivers Bill Introduced In Congress
Recently, U.S. Reps. Mike Gallagher (R-WI) and Abigail Spanberger (D-VA) introduced bipartisan legislation to address the current truck driver shortage in the United States by establishing a refundable income tax credit for qualified commercial truck drivers.
“The Strengthening Supply Chains Through Truck Driver Incentives Act” would create a new refundable tax credit of up to $7,500 for truck drivers holding a valid Class A CDL who drive at least 1,900 hours and up to $10,000 for new truck drivers enrolled in a registered trucking apprenticeship.
The refundable tax credit would be available for truck drivers, not companies, in tax years 2022 and 2023.
Unfortunately, the bill does not apply to Class B CDL holders driving straight trucks to qualify for the $7,500 refundable tax credit which means heating oil truck drivers are not eligible for the tax credit.
EMA is confident changes will be made to include heating oil truck drivers, and if corrected, EMA will support this needed legislation.