Industry Wire

TRALA Helps Push Safety Technology Tax Credit

TRALA is strongly supporting legislation currently being considered in both houses of Congress that would establish federal tax credits for the purchase of advanced safety systems for commercial trucks. The tax credits provided for in the bills would cover up to 50% of the cost of eligible systems installed on commercial trucks. The tax credits would be limited to $1,500 per safety system and $3,500 per vehicle. Each taxpayer would be limited to $350,000 in tax credits per year.

In June 2008, TRALA Chairman Tom Thayer met with Congressman Mike Thompson (D-CA), the sponsor of the House version of the Commercial Motor Vehicle Advanced Safety Technology Act of 2009 (HR 2024). TRALA has promised its support to both Thompson and Senator Debbie Stabenow (D-MI), the sponsor of the Senate version (S 1582).

The identical House and Senate bills propose a federal tax credit for the purchase and installation of brake stroke monitoring systems, lane departure warning systems, collision warning systems and vehicle stability systems. These safety systems must be installed on commercial trucks weighing over 26,000 pounds to be eligible for the credit. The legislation also provides authority to the Federal Motor Carrier Safety Administration and the National Highway Traffic Safety Administration to identify other advanced safety technologies and equipment that would qualify for the tax credit in the future.

TRALA’s Equipment and Technology Advisory Council will be holding a web conference in September on the Commercial Motor Vehicle Advanced Safety Technology Act and the eligible systems. For more information on TRALA’s efforts to support this legislation or on the upcoming web conference, please contact TRALA’s Tom James at 703-299-9120 or at tjames@trala.org.