The Commercial Motor Vehicle Advanced Safety Technology Tax Act of 2011 (H.R. 1706), recently introduced by Congressman Geoff Davis (R-KY) and Mike Thompson (D-CA), would provide an income tax credit for truck and fleet owners. Troy, Mich.-based Meritor WABCO notes that its SmartTrac Stability Control System and OnGuard Collision Safety System are among technologies included in H.R. 1706.
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. This tax credit, which cannot exceed $350,000 annually per taxpayer, could be used toward the purchase of Meritor WABCO SmartTrac Stability Control Systems, incorporated in the braking package, and OnGuard Collision Safety Systems.