Legislation introduced by Congressman John Ensign, R-NV, would provide an income tax credit equal to 50 cents for each gallon equivalent of natural gas, propane, and methanol used in vehicles placed in service after Dec. 31, 1997.
The legislation is backed by such groups as the Natural Gas Vehicle Coalition. “This legislation will dramatically increase the use of natural gas as a transportation fuel, reduce the amount of urban air pollution and greenhouse gases released into the environment and strengthen our national security by reducing our dependence on foreign oil,” said Richard R. Kolodziej, NGVC president.
Ensign, who reports the bill has been well-received by his colleagues on Capitol Hill, hopes the Clean Burning Fuels Incentive Act will be part of legislation that Congress will consider later this year.