FlexFuel Cars: Tax Accelerates Energy Independence ...
Proposed tax would accelerate production of flex-fuel vehicles and penalize non-flex cars in order to accelerate the country towards energy independence. ...
... "Rep. Zoe Lofgren (D-San Jose) today introduced H.R. 5959, the TEAM (To
Encourage Alternatively fueled vehicle Manufacturing) Up for Energy Independence Act of 2006, which will encourage the production of alternatively fueled vehicles by phasing in a tax penalty on the manufacture or import of new, non-flex fuel cars, light trucks, and SUVs. H.R. 5959 phases in a tax penalty on the manufacture or import of new, non-flex fuel vehicles. Any revenues generated by this tax will then be used to help independent gas station owners install alternative fuel equipment. Since the cost of producing flex fuel vehicles is minimal at the time of manufacturing, these tax penalties can be easily avoided and will provide a needed incentive to move this emerging alternative energy technology forward. " ...
Additional resources on flex-fuel approach to energy independence ...
COLEMAN OUTLINES PLAN TO ACHIEVE GREATER ENERGY INDEPENDENCE: "The Energy Policy Act of 2005 Congress passed this summer included important provisions to expand energy conservation and renewable energy production, particularly through the creation of the Renewable Fuels Standard (RFS). However, many of these provisions only support the current rate of growth for the renewable industry. If America is going to replicate Brazil's energy success, stronger, bolder policies are necessary. I believe we need a national energy policy that increases availability of flex fuel vehicles, invests heavily in E-85 infrastructure, includes a sugar-to ethanol program, and sets a national mandate for ethanol that matches our energy independence ambitions. Key elements of such a renewable energy policy are present in the Vehicle and Fuel Choices for American Security Act referenced earlier. VFCASA will increase the availability of flex fuel vehicles by setting a reasonable requirement that 10 percent of vehicles sold in the U.S. are alternative vehicles, such as flex fuel vehicles, by 2012 and 50 percent by 2016. This requirement would be coupled with a new tax credit for manufacturers for upgrades necessary to begin or expand production of advanced technology vehicles -- helping industry meet this requirement. "