Industry groups seek incentives for truck purchases
Oct 18, 2005 2:34 PM
The Motor Equipment Manufacturers Association, the Heavy Duty Manufacturers Association, and the American Trucking Association (ATA) are among the groups asking Congress to pass legislation that would provide targeted tax incentives for the purchase of 2007 clean diesel trucks.
The coalition has been working to include a provision that would secure this incentive in legislation over the past several months. MEMA & HDMA have now learned that the best opportunity for the incentive’s approval may come in late October. H.R. 3301 (a bipartisan bill) will provide truckers with a five percent investment tax credit to help defray the additional costs of new trucks in 2007. Truck buyers would also be allowed to expense the acquisition costs of new diesel trucks in that year.
Companion legislation, S. 1240 has been introduced in the Senate.
