Bipartisan legislation recently re-introduced in the U.S. House of Representatives would establish a refundable income tax credit for qualified commercial truck drivers.
The Strengthening Supply Chains Through Truck Driver Incentives Act would amend the Internal Revenue Code of 1986 to establish a refundable tax credit for commercial truck drivers. The tax credit would be for 2023 and 2024, and would have a cap of $7,500 for truck drivers holding a valid Class A commercial driver’s license who drive at least 1,900 hours annually.
A refundable tax credit of up to $10,000 would be created for new truck drivers or individuals enrolled in a registered trucking apprenticeship. It also would last for two years.
The bill also would allow new truck drivers to be eligible for the credit even if they did not drive a commercial truck in the previous year or drive for at least 1,420 hours in the current year. Drivers would receive a proportion of the credit if they drive less than 1,420 hours annually, but at least an average of 40 hours a week.
U.S. Reps. Mike Gallagher (R-WI) and Abigail Spanberger (D-VA) re-introduced the bill. They first introduced the bill in April 2022.
The bill was referred to the House Committee on Ways and Means.