Sen. Obama Introduces NGV Incentive Legislation

Sen. Obama Introduces NGV Incentive Legislation Source - NGV Global

Monday, 22 September 2008 00:00

USA, Washington DC He may only have six weeks to go till the US Presidential election but Democrat candidate and Illinois Senator, Barack Obama, still found time las week to introduce legislation (S.3506) that would increase the tax credit for individuals that purchase natural gas vehicles and extend the credit through to the end of 2017. The Senator proposes increasing the incremental price eligible for a credit from 50/80 percent to 100 percent for all weight classes of vehicle, and a doubling of the tax credit for fleets that purchase more than 100 NGVs in a year. This last provision is identical to one proposed by Rep. Rahm Emanuel (D-IL) in the Congressman’s NAT GAS Act (HR 6570). In addition, the Senator proposed increasing the amount the EPA can pay for alt fuel school bus from 25 and 50 percent to 50 and 75 percent (depending on the vehicle’s emissions), and reauthorizing the Clean School Bus Program at $110 million per year from 2010 through 2015. The program is currently authorized to be funded at “such sums as are necessary” until 2010.