ATA Forecasts Gains in Trucking Industry and freight transportation

The American Trucking Association recently released a report that forecasts significant gains in the trucking industry that will require more truck transportation services and additional heavy vehicle operators. Expert organizations have found that trucking is the leading mode of transportation and projects an even more robust role for trucks in the future. The trucking community currently dominates the freight transportation industry in regard to both tonnage and revenue, comprising 67% of tonnage and 81% of revenue in the past year alone. The trucking community will continue to be the primary source for inter-country freight transportation because they are not only the most efficient but also the cheapest form of transport. It is expected that total freight tonnage will grow by 21% by 2023 and revenue for the freight transportation industry to rise by 59% in the same timeframe.

Although the demand for truck transportation continues to increase, there have been multiple reports claiming that there is and will be a massive shortage of truck drivers. So what is the trucking community to do? In our opinion, it is vital that current heavy vehicle operators continue to comply with truck taxes like the heavy vehicle use tax and the international fuel tax agreement because those payments can help federal agencies develop additional benefits and advantages for experienced drivers. Trucking fleets and companies are doing their best to maintain their retention rates, in an act of desperation; it is possible that these companies will begin to partner with federal transportation agencies to offer greater incentives for experienced drivers so that they stay on board.

Without heavy vehicle use tax and international fuel tax agreement compliance, federal agencies will lack the motivation and funds to please the trucking community. Therefore, ETax2290 urges all truck owners/operators to complete their heavy highway tax form 2290 online and in a timely manner so that these federal agencies can not pull the excuse that they are without “funds.” ETax2290 intends to serve the trucking community with their best interest in mind and as a result, encourages heavy vehicle operators to file for their heavy vehicle use tax.

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