Findings of an independent analysis by ICF International say that the passing of the legislation for the Propane Green Autogas Solutions (GAS) Act of 2011 (H.R. 2014 and S. 1120) would create a significant increase in jobs and a substantial economic boom for the U.S.
The study says that the legislation could create $5.7 billion a year in new economic activity and 42,000 new jobs during the next five years. The study also says that from 2012 to 2021, the GAS Act would generate as much as $29 billion in economic activity. Furthermore, the legislation would diminish crude oil and petroleum imports by 83 to 117 million barrels.
The Propane GAS Act is an extension of an existing law that would extend provisions found in the 2005 Energy and Highways bills that establish tax incentives to propane autogas.
These incentives would:
-help cover the cost of converting vehicles to run on propane autogas
-help cover the cost of expanding the refueling infrastructure in the U.S.
-provide 50 cents per gallon for every gallon pumped using on-site refueling infrastructure
The author of S. 1120 is Sen. Ben Cardin (D-MD). Original cosponsors are Sen. Debbie Stabenow (D-MI) and Sen. Roy Blunt (R-MO). The author of H.R. 2014 is Congressman John Carter (R-TX), and original cosponsors Congressman Dan Boren (D-OK) and Congressman Mike Rogers (R-AL).
Since the legislation's introduction, more than 20 members of Congress (from both parties) have signed on as additional cosponsors.
To read the complete findings, visit http://www.roushcleantech.com/content/icf-study
The study says that the legislation could create $5.7 billion a year in new economic activity and 42,000 new jobs during the next five years. The study also says that from 2012 to 2021, the GAS Act would generate as much as $29 billion in economic activity. Furthermore, the legislation would diminish crude oil and petroleum imports by 83 to 117 million barrels.
The Propane GAS Act is an extension of an existing law that would extend provisions found in the 2005 Energy and Highways bills that establish tax incentives to propane autogas.
These incentives would:
-help cover the cost of converting vehicles to run on propane autogas
-help cover the cost of expanding the refueling infrastructure in the U.S.
-provide 50 cents per gallon for every gallon pumped using on-site refueling infrastructure
The author of S. 1120 is Sen. Ben Cardin (D-MD). Original cosponsors are Sen. Debbie Stabenow (D-MI) and Sen. Roy Blunt (R-MO). The author of H.R. 2014 is Congressman John Carter (R-TX), and original cosponsors Congressman Dan Boren (D-OK) and Congressman Mike Rogers (R-AL).
Since the legislation's introduction, more than 20 members of Congress (from both parties) have signed on as additional cosponsors.
To read the complete findings, visit http://www.roushcleantech.com/content/icf-study
Read more about
Fuel and Oil
media brand
0 Comments
See all comments