Motor Vehicle Parts Suppliers Thank Senators for Introducing Heavy Duty Vehicle Safety Technology Tax Credit: aftermarket News

A new Post "Motor Vehicle Parts Suppliers Thank Senators for Introducing Heavy Duty Vehicle Safety Technology Tax Credit: aftermarket News" was written on the August 10, 2009 at 12:00 am on "Press Release – Buzz Issue.".

WASHINGTON, D.C. - The Motor & Equipment Manufacturers Association
(MEMA) and its heavy-duty affiliate association, the Heavy Duty
Manufacturers Association (HDMA), have lauded Sens. Debbie Stabenow
(D-Mich.), George Voinovich (R-Ohio), and David Vitter (R-La.) for
their introduction of S.B. 1582, a bill that would provide a tax
credit for the purchase of advanced safety equipment for heavy duty
vehicles. The bill was introduced on Aug. 5.
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The bill is a companion measure to H.R. 2024 introduced in the House
by Reps. Mike Thompson (D-Calif.) and Geoff Davis (R-Ky.). The
proposed legislation includes the following technologies: electronic
brake stroke monitoring systems, vehicle stability systems, lane
departure warning systems and collision warning systems. The
legislation will encompass both original equipment (OE) and
aftermarket installation.
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The bill also creates a tax credit for fleet owners, valued at 50
percent of the retail cost of the system, with a maximum of $1,500.
The legislation would allow the fleet to purchase multiple
technologies, with a cap of $3,500. The overall amount of credit
available to each company or motor vehicle carrier fleet would be
restricted to $350,000 per year for all vehicle purchases.
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We are grateful to Sens. Stabenow, Voinovich and Vitter for
introducing this important bill, said Tim Kraus, HDMAs president and
chief operating officer. These tax credits will help bring needed
safety technology to heavy duty vehicles and help protect the motoring
public.
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http://www.buzz-issue.com/2009/08/motor-vehicle-parts-suppliers-thank-senators-for-introducing-heavy-duty-vehicle-safety-technology-tax-credit-aftermarket-news.html

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