Federal Bill Seeks Tax Credit for Advanced Safety Devices in Trucks
November 1, 2007
• by Staff
--- Congressman Mike Thompson (D-Calif.) has introduced a bill that would provide a tax credit to commercial fleet operators buying advanced safety technology for their trucks.
The bill (HR 3820) cites such safety systems as collision warnings, lane departure warnings, vehicle stability and brake stroke monitoring. The legislation, now in the House Ways and Means Committee, has drawn support from the Motor & Equipment Manufacturers Association, Trucker.com reported.
The bill itself makes a good case for improving the safety of commercial trucks, pointing out that in 2005 5,212 people died and 114,000 people were injured in large truck-related crashes in the U.S. "Overall, from 2001 to 2005, there have been 25,533 large truck-related fatalities in the United States," the bill states.
The proposed tax credit would be 50 percent of the cost of the qualified safety system, capped at $1,500 per safety system. The cap per vehicle would be $3,500. Qualifying commercial vehicles must weigh more than 26,000 pounds or seat at least 11 passengers.
Originally posted on Fleet Financials