We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
  • INDUSTRY PRESS ROOM
  • ABOUT
  • CONTACT
  • MEDIA FILE
  • Create Account
  • Sign In
  • Sign Out
  • My Account
Free Newsletters
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC
    • Podcast
    • Webcasts
    • Blogs
      • One-Off Sound Off
      • Global Logistics and Risk
      • Empowering Your Performance Edge
      • Analytics & Big Data
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • Parcel Forum 2022
    • MODEX 2022
    • Upload Your Video
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC
    • Podcast
    • Webcasts
    • Blogs
      • One-Off Sound Off
      • Global Logistics and Risk
      • Empowering Your Performance Edge
      • Analytics & Big Data
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • Parcel Forum 2022
    • MODEX 2022
    • Upload Your Video
Home » it pays to be safe—and it might even lower your taxes
newsworthy

it pays to be safe—and it might even lower your taxes

November 1, 2007
DC Velocity Staff
No Comments

It goes without saying that it pays to be safe. And for the trucking industry, at least, there may be an added bonus in the form of a tax credit. The Commercial Motor Vehicle Advanced Safety Technology Tax Act (HR 3820), filed by Representatives Mike Thompson (D-Calif.) and Ron Lewis (R- Ky.), would create a tax incentive for owners and manufacturers of large trucks and buses to outfit their vehicles with safety systems that have been proven to reduce accident rates.

"California has the second-highest fatality rate in the country when it comes to accidents involving large trucks," said Thompson when announcing the filing. "Our highways connect people and economies—and with over 200 million licensed drivers in our country, improving road safety is paramount. Technology will be a key tool in that effort, and this legislation will expand access to proven safety systems."

The tax breaks would cover the following technologies:

  • Brake-stroke monitoring systems, which monitor brakes to ensure they are functioning properly;
  • Lane-departure monitoring systems, which warn the driver when the vehicle drifts into the wrong lane;
  • Collision warning systems, which warn the driver if the vehicle is getting close enough to another vehicle or object to cause an accident; and
  • Vehicle stability systems, which automatically stabilize the vehicle when there is a threat of a roll-over.

Prices for those systems range from $1,000 to $3,500 per vehicle. Under the proposal, fleet owners would be eligible for a maximum credit of $350,000 per year. Owners of large trucks and buses who purchase one or more of these systems would be eligible for a tax credit of up to $3,500 annually, with a maximum of $1,500 per system.

Transportation Trucking
  • Related Articles

    It pays to be a good partner

    No, a robot will not take your job (but it might change it)

    Who's your boss? It's not who you might think

Recent Articles by DC Velocity Staff

From sea to … shining stars?

Artificial intelligence creates real encyclopedia

Freight sector missed the boat on strong U.S. economy in Q3 and Q4, FTR says

You must login or register in order to post a comment.

Report Abusive Comment

Most Popular Articles

  • Schneider welcomes first battery-electric truck

  • Fred Smith is not worried about Amazon

  • Outlook 2023: What’s in store for logistics/supply chain?

  • Ports, maritime operators see tide turning as ocean freight tsunami subsides

  • In Person: Steve Beverly of Penske

Now Playing on DCV-TV

Eeafd0c7 0569 4a63 8b31 fdbc5322c7cd

Crown’s DualMode Automated Forklifts Revolutionize the Warehouse

DCV-TV 4: Viewer Contributed
As part of the company’s ongoing digitization efforts, DHL Supply Chain has deployed Crown’s DualMode automated reach trucks to help ensure resiliency in the supply chain, with reach trucks available 24/7/365. “AGVs provide a better quality of life for our associates on the floor,” says Gordon Hanthorn, Senior...

FEATURED WHITE PAPERS

  • The five best applications for robotic lift trucks in warehouse environments

  • Fulfillment Facility Improved Efficiencies by 4x

  • 3PLs: Complete Orders Faster with Flexible Automation

  • Reusable Packaging for the New Wave of Supply Chain Automation

View More

Subscribe to DC Velocity Magazine

GET YOUR FREE SUBSCRIPTION
  • SUBSCRIBE
  • NEWSLETTERS
  • ADVERTISING
  • CUSTOMER CARE
  • CONTACT
  • ABOUT
  • STAFF
  • PRIVACY POLICY

Copyright ©2023. All Rights ReservedDesign, CMS, Hosting & Web Development :: ePublishing