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LNG vehicle tax break bill defeated in US Senate vote

LNG Industry,


A recent bill put to the vote in the US Senate, that would have seen the introduction of tax incentives for LNG fuelled vehicles, has met with defeat. Despite this setback, at least one supporter of the legislation has said the bill will be revised and reintroduced in order to reflect industry concerns.

The tax breaks, which would have been funded by fees charged to fuel users, were intended to promote the purchase of haulage and commercial vehicles that are capable of running on cheaper and more environmentally friendly natural gas. The incentives would also have helped reduce the cost of constructing vital infrastructure such as pumps and fuelling stations.

The two big names behind the debate were the billionaire T. Boone Pickens, who has sought to promote the use of LNG fuelled vehicles since 2008 and Koch Industries, an energy conglomerate that raised concerns over the bill causing interference in the private sector.

The legislation covering the tax incentives was drafted as an addition to the Senate’s highway bill. The resulted in a minimum vote threshold of 60. The bill, however, only managed to make 51 votes for with 47 against.

Supporters of the legislation are keen to voice optimism in the face of this defeat, with many claiming that the industry can still do business without the incentives.

The news of the bill’s defeat in the senate was announced as it became clear that attempts to provide tax breaks for wind, solar and biofuels had also lost a vote.

Read the article online at: https://www.lngindustry.com/small-scale-lng/14032012/lng_vehicle_tax_break_bill_defeated_in_senate_vote/


 

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