Sent to the Senate
|December 11, 2009 | | USA|
|With the passing of the Volumetric Excise Tax Credit (VETAC) on Wednesday by the House of Representatives, the "Tax Extenders" Bill (HR4213) is closer to furthering credits beyond the current December 31 deadline. The effect of the bill would be to extend to December 31, 2010 tax credits of 50 cents per gallon of CNG (Compressed Natural Gas) and 50 cents per gallon of LNG (Liquefied Natural Gas) used to fuel vehicles.
Tom Sewell, President and of Tulsa Gas Technologies, the largest manufacturer of CNG dispensers in North America, commended the vote. “This extension of Volumetric Excise Tax Credits is very important to both the environment and the economy in America's effort to lessen dependence on imported petroleum and to encourage use of clean, plentiful domestic natural gas," he said. "Use of natural gas vehicles is gaining nationwide and is making headway in reducing petroleum usage and in providing a cleaner environment."
The VETAC Bill, if passed by the Senate, will then go to President Obama to be signed into law.
Tulsa Gas Technologies 4809 S. 101st E. Ave. Tulsa, OK 74146 (918) 665-2641