Tax Credit Bill for Truckers Submitted by Authorities

On Friday, lawmakers introduced a bipartisan bill providing a tax credit only for truckers. The bill provides for the attraction and retention of drivers in the trucking industry.

On April 1, Mike Gallagher (R-WI) and Abigail Spanberger (D-VA) introduced the Strengthening Supply Chains Through Truck Driver Incentives Act.

As stated in a press release, the Act provides:

• Creation of a new refundable tax credit of up to $7,500 for truck drivers with a valid Class A CDL who drive at least 1,900 hours per year.

This tax credit would last for two years (2022 and 2023).

• Creation of a new refundable tax credit of up to $10,000 for new truck drivers or individuals enrolled in a registered trucking apprenticeship. 

This tax credit would also last for two years.

• Allowing new truck drivers to be eligible for credit if they did not drive a commercial truck in the previous year or have driven at least 1,420 hours in the current year.

They may receive a proportion of the credit if they drive less than 1,420 hours in the year, but drove at least an average of 40 hours a week upon starting to drive.

The bill aims to get Americans involved in truck driving training programs.

“The truck driving industry is facing a massive workforce shortage that’s disrupting supply chains and leaving store shelves empty,” said Rep. Gallagher.

 “We need truck drivers to keep our economy moving, and this bill takes steps to help encourage more individuals to make a career out of this important work.”

The bill has been supported by the American Trucking Associations and the American Loggers Council.