CERTAIN Americans may be able to get their hands on a refundable tax credit worth up to $10,000 under a new plan.
The thousands of dollars in refunds are part of a new proposed bill aimed at helping the trucking industry retain drivers through tax incentives.
3
3
The bipartisan Strengthening Supply Chains through Truck Driver Incentives Act was reintroduced by Congressmen Pat Ryan and Zachary Nunn on Thursday.
The bill seeks to address the growing truck driver retention crisis.
It would incentivize new and current drivers through a refundable tax credit that would ultimately support driving careers, address truck driver job retention, and combat price-raising supply chain issues derived from driver shortages.
“Truck drivers keep the American economy moving forward. They work long, hard hours with little support to make sure that people across the country have everything that they need for daily life,” said Congressman Pat Ryan.
“It’s no wonder that job retention rates in the industry are declining. We have to be encouraging more people to sign up to drive and stay there, which is why providing incentives like this is so important. Keeping more skilled drivers on the road will also help combat supply chain issues, which jack up prices for American consumers.
“Passing this bill is a no-brainer: better conditions for the workers that drive us forward, more high-paying union jobs, and lower costs for families across the country.”
WHEELS TURNING
If passed, the proposed bill would provide incentives including a refundable tax credit for current drivers as well as an enhanced credit for new truck drivers and those in trucking apprenticeship programs.
Established truck drivers who possess a valid Class A CDL who drive a minimum of 1,900 hours in the year would receive a refundable tax credit worth up to $7,500.
If passed, this tax credit would be available for the years 2025 and 2026.
The bipartisan act would also encourage more Americans to get on the road by creating incentives for them to become commercial drivers.
It would establish a refundable tax credit worth up to $10,000 for new truck drivers or people enrolled in a registered trucking apprenticeship.
This tax credit would also last for two years.
New truck drivers would still be eligible for a portion of the credit through the Strengthening Supply Chains Through Truck Driver Incentives Act if they meet certain criteria.
For example, individuals who drove fewer than 1,420 hours in the year, but averaged at least 40 hours per week upon starting to drive, may receive a portion of the credit.
Passing this bill is a no-brainer: better conditions for the workers that drive us forward, more high-paying union jobs, and lower costs for families across the country.”
Pat Ryan
The proposed bill is endorsed by the American Trucking Associations, the Trucking Association of New York, New York Farm Bureau Federation, International Foodservice Distributors Association, and the Teamsters.
“Helping more qualified drivers get behind the wheel is essential to ensuring our industry can continue to deliver the nation’s freight safely and efficiently,” said American Trucking Associations president and CEO Chris Spear.
“The Strengthening Supply Chains Through Truck Driver Incentives Act will grow and retain our essential workforce by making rewarding, good-paying careers in trucking even more attractive while also providing tax relief for new drivers.
“We commend Representatives Pat Ryan and Zach Nunn for working to reduce barriers to one of the few professions that can provide a middle-class lifestyle without the time and expense of a four-year college degree.”
Lawmakers have proposed several similar bills in past years, which thus far have failed to advance.
If the Strengthening Supply Chains Through Truck Driver Incentives Act passes, eligible truck drivers can claim the credit when they file their taxes in 2026.
The deadline to file your taxes this year is quickly approaching, set for April 15.
The IRS has revealed that millions of Americans will see higher tax refund checks worth up to $3,330 this year – but you must meet the requirements.
Plus, Americans risk missing out on $995 payments from a $1 billion pot – the exact steps you need to take to get your cash.
3
