Here is a link to "OpenCongress" that shows how your elected officials voted on the Pickens Plan...again, I urge you to contact those officials in your State that voted NO and tell them why it is imported that tax credits on natural gas vehicles be implemented. If we want natural gas to be the fuel of the future...our voices must be heard.
"Piss off" really...I can tell your an educated person. I bet you don't think twice about taking that energy credit on a new furnace, windows, or any other "energy saving" appliance that you purchased. If you read the bill it's not a subsidy...it's a TAX CREDIT...big difference. A tax credit is subtracted from the federal tax that you owe...and/or if your a business you can carry forward losses for 3 years.
I am in no way in favor of any government subsidizing either, but a TAX CREDIT would encourage the development and demand for CNG & LNG vehicles; which, in turn, would stimulate the building of private natural gas infrastructure for fuel.
I agree Gale. What is needed is all the gov't hurdles that conversions must go through which has raised the cost of conversion beyond sanity.
There is also a TAX CREDIT for conversions in the bill
I don't want a tax credit, all I want is to be able to do it without most of the certification BS from big gov't which is where a significant amount of the cost comes from.
There is one alternative in Pa anyhow.....You can lawfully (for now) convert your own pre-1973 vehicle with a reputable kit with no problems as they are exempt from the EPA smog etc rules.
I've built a few small block chevys in the past, I'm sure i could do it again expressly for CNG,
using a late '60's vehicle.
CNG cars and trucks are great. What a oppurtunity. It doesn't need subsidized, tax credited or funded by the Govt. Pickenes made his fortune with a lot of tax dollars. What ever happened to take the risk, reap the rewards?
Do you guys realize that this is a TAX CREDIT for the PURCHASER (that means you) of any CNG or LNG vehicle...and/or for the conversion of an existing conventional gas/diesel vehicle...NOT for Boone Pickens or any other company. This simply means that if you buy a CNG/LNG or convert you would be able to reduce your federal tax liability by X amount. If the TAX CREDIT is for $7,500 and you have a federal tax liability of $10,000...you would only owe the IRS $2,500. And if you have received a bonus check and/or royalties...believe me you are going to owe tax.
Put another way...if the item you want to buy at a store cost $10.00, and you have a coupon for $7.50, the item only cost you $2.50. A TAX CREDIT for the tax payer is exactly like a store coupon...it reduces the final amount you have to pay. No ENTITY receives any amount of money...the federal government just receives less tax dollars from the tax payer who bought or converted to a CNG/LNG vehicle.
Where do you think the $7500 comes from? Even if they print it we still are paying for it. Where does the $7500 end up? If it's a GM CNG it ends up in GM's pocket, still subsidizing GM. CNG is smart and can stand on it's own. As Jim said above it is not a level playing field so we need to get rid of tax credits and subsidies, not add to the problem. How many years have we had credits to buy better windows and now the EPA has such stringent lead rules to work on any thing built prior to 1978 that reputable companies won't do the work and the customer can't afford windows now. Stupid contractors do a lead test and for ever more the homeowner must disclose they have lead when they go to sell. We mess with the market and often the outcome is reverse.
You guys are clueless...when this passes make sure you tell your accountant not to reduce your taxes with this tax credit. Go ahead and pay the federal government the tax when you purchase that new CNG vehicle (which none of you will do). I can tell that none of you are business people...and buy the way republicans (as I am) have inacted tax credits also.
I understood the tax credit was given to the person or company who purchased and/or converted the vehicle to ng. I would think this credit would work similar to the cash for clunker deal. The amendment would assist trucking companies to be able to convert to ng. Am I wrong? Without the vehicles on the road how or why would you expect ng stations to open? It's a catch 22. I don't consider this welfare -- I call it incentive to get the ng business growing quickly. this could probably be funded by taxes already in place on the gas companies.
Finally...someone with some intellect who uses logic and rational to come to a conclusion. You are dead on Betty...the COMPANY or PURCHASER gets the TAX CREDIT...as I have said numerous times in this discussion. It comes right off of company or persons tax liability...no money ever exchanges hands...the government just doesn't collect it from the company or the purchaser when they file their tax return. When you purchase the vehicle at the dealership you are paying the price you bargained for...it is not until you file your tax return that the TAX CREDIT for the tax payer comes into play.
VOLT PIECE OF JUNK! Developed under and subsidized by the Bush administration and his cronies at GM. Actually