In The News

High-tech safety bill mindful of owner-operators

Truckers opting to buy advanced stability systems and other technology for new and used trucks could see tax incentives.

In late April, 11 U.S. representatives co-sponsored the recently introduced House Resolution 2024 – the “Commercial Motor Vehicle Advanced Safety Technology Tax Act.” HR2024 would amend the IRS tax code to provide an income tax credit for truck owners who purchase advanced safety systems for commercial motor vehicles.

The resolution, sponsored by Congressman Mike Thompson (D-CA), was referred to the House Committee on Ways and Means on April 22.

The tax incentives would be equal to 50 percent of the cost of each safety system, not to exceed $1,500 of credit per system, or $3,500 of tax credit per vehicle. The measure covers both original equipment purchases and aftermarket installation.

Technologies included in the tax incentives are: brake stroke monitoring systems, lane departure warning systems, collision warning systems, vehicle stability systems or systems identified by FMCSA or the National Highway Traffic Safety Administration as enhancing safety or security of the driver, vehicle or load.

OOIDA Director of Legislative Affairs Mike Joyce pointed out that the bill’s sponsors were mindful of owner-operators in crafting the measure. Joyce said lawmakers realize that OOIDA would first and foremost prefer to see an investment in training and compensation of drivers before “jumping into adding all this high-end technology” on trucks.

“Rather than a mandate, an incentive-based approach to encourage the use of some of this technology is a good way to go,” he said. “We appreciate the efforts by the sponsoring members of Congress.”

Joyce said if the bill were to pass, truckers “could see tax savings should they choose to outfit their truck with certain safety-related equipment.”

The legislation’s original co-sponsors are Reps. Geoff Davis, R-KY; Peter DeFazio, D-OR; David Dreier, R-CA; Charles Gonzalez, D-TX; Walter Jones, R-NC; Sander Levin, D-MI; Sue Wilkins Myrick, R-NC; Gary Peters, D-MI; Mike Rogers, R-MI; Heath Shuler, D-NC; and Melvin Watt, D-NC.

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