Meritor WABCO supports tax credit for safety technologies

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Updated May 27, 2011

Meritor WABCO announced its support for the Commercial Motor Vehicle Advanced Safety Technology Tax Act of 2011, introduced by Congressmen Geoff Davis (R-Ky.) and Mike Thompson (D-Calif.) on May 4 as H.R. 1706. The bill would provide an income tax credit for proven advanced safety technologies to owners of commercial trucks, buses and commercial motor vehicle fleets.

The proposed bill facilitates the accelerated development and deployment of advanced safety systems by providing tax credits to purchasers of commercial vehicles of up to $1,500 per safety system and $3,500 per vehicle. The tax credit cannot exceed $350,000 annually per taxpayer. The bill’s supporters say its passage ultimately could lead to fewer crashes, fatalities and injuries.

Meritor WABCO’s SmartTrac Stability Control System and OnGuard Collision Safety System are safety technologies included in H.R. 1706. “We strongly support the introduction of this legislation and would like to thank Congressmen Davis and Thompson for their continued efforts in advocating for commercial vehicle safety technologies,” says Jon Morrison, president and general manager of Meritor WABCO. “This bill will assist carriers and owner-operators to specify safety technologies needed to prevent thousands of crashes annually involving commercial vehicles. Highways would be safer for fleet drivers and passenger car drivers alike.”