Parts Suppliers Laud Heavy Duty Vehicle Safety Technology Tax Credit

The Motor & Equipment Manufacturers Association (MEMA) and its heavy-duty affiliate association, the Heavy Duty Manufacturers Association (HDMA), lauded Sens. Debbie Stabenow (D-Mich.), George Voinovich (R-Ohio), and David Vitter (R-La.) for their introduction of S. 1582, a bill that would provide a tax credit for the purchase of advanced safety equipment for heavy-duty vehicles. The bill was introduced on August 5.

The bill is a companion measure to H.R. 2024 introduced in the House by Reps. Mike Thompson (D-Calif.) and Geoff Davis (R-Ky.). The proposed legislation includes the following technologies: Electronic Brake Stroke Monitoring Systems, Vehicle Stability Systems, Lane Departure Warning Systems, and Collision Warning Systems. The legislation will encompass both original equipment (OE) and aftermarket installation.

The bill also creates a tax credit for fleet owners, valued at 50 percent of the retail cost of the system with a maximum of $1,500. The legislation would allow the fleet to purchase multiple technologies, with a cap of $3,500. The overall amount of credit available to each company or motor vehicle carrier fleet would be restricted to $350,000 per year for all vehicle purchases.

“We are grateful to Sens. Stabenow, Voinovich and Vitter for introducing this important bill, said Tim Kraus, HDMA’s president and chief operating officer. “These tax credits will help bring needed safety technology to heavy-duty vehicles and help protect the motoring public.”

“The technologies in this bill will help reduce some of the most dangerous types of accidents involving heavy duty vehicles,” said Sen. Voinovich. “This bill makes public safety the top priority it should be.”

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