Senate bill seeks tax credit for safety technology

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A bill has been introduced in the U.S. Senate that would provide tax credit for buyers of commercial vehicles with specific safety technologies.

The legislation comes as a result of the Federal Motor Carrier Safety Administration’s recent Large Truck Crash Causation Study, which identified four technologies that would reduce crashes and fatalities: collision avoidance, lane departure warning, stability control and brake stroke monitoring. S.B. 3428 would provide a tax credit equal to half the cost of these technologies up to $1,500 per item. The maximum tax credit per year would be $3,500 per vehicle and $350,000 per taxpayer.

A similar bill, H.R. 3820, was introduced in the U.S. House last fall.