Clean Energy Supports Proposed Federal Legislation That Would Expand the Use of Natural Gas Fuel for Transportation and Increase Natural Gas Vehicle Deployment in America
The bi-partisan-sponsored legislation — the New Alternative Transportation to Give America Solutions (NAT GAS) Act — would provide expanded tax credits for natural gas used as vehicle fuel, as well as credits for the purchase of NGVs. The bill would also encourage manufacturers to produce dedicated NGVs, and includes tax incentives for developing natural gas fueling infrastructure.
Introduced by Reps.
The NAT GAS Act would restore and expand the NGV tax credit that makes
NGVs eligible for a credit equal to 80% of the vehicle's incremental
cost subject to caps depending upon vehicle size. It would also extend
for five years the
"This backing by
"Worldwide, natural gas vehicle use is expanding dramatically. Many
countries are rapidly adopting natural gas vehicle solutions in an
effort to reduce petroleum use and improve the environment. In
Littlefair noted that President
NGVs, particularly heavy-duty vehicles for waste hauling, transit and trucking, are seen increasingly as a means to reduce dependence on foreign oil and lower harmful greenhouse gas emissions.
Costing less than diesel or gasoline, natural gas fuel produces up to
30% lower greenhouse gas emissions in light-duty vehicles, and up to
23%-percent lower greenhouse gas emissions in medium to heavy-duty
applications.
About
Forward Looking Statements — This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that involve risks, uncertainties and assumptions, including statements about the NAT GAS Act and, specifically, the provisions of the legislation that provide for increased federal tax credits for the purchase of natural gas vehicles and natural gas used as vehicle fuel, and tax incentives for the development of natural gas fueling infrastructure and the potential impact any such legislation might have on Clean Energy should it be passed into law. Actual results and the timing of events could differ materially from those anticipated in these forward looking statements as a result of several factors, including the inherent uncertainty of the legislative process, continuously changing political conditions, the price per gallon of natural gas relative to diesel and gasoline and the performance, availability and price of natural gas vehicles relative to gasoline and diesel vehicles. The forward-looking statements made herein speak only as of the date of this press release and, unless otherwise required by law, the company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
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