Natural gas vehicles are known to be a great alternative to many gas-guzzling cars on the road today, and could prove to be even a better choice if the Senate passes the New Alternative Transportation to Give Americans Solutions Act of 2009, which recently passed through the House. Natural gas is also a financially intelligent decision considering that America has the cheapest and most abundant sources of natural gas in the world.
Legislature has already provided a pathway for Americans to take advantage of many alternative fuel vehicles with the passage of various tax incentives and grants for those who chose to make the choice to switch to a more environmentally-friendly automobile.
With incentives such as income tax credits for alternative fuel vehicles, where the credits range from $2,500 to $32,000 depending on the size of the vehicle, and the implementation of The American Recovery and Reinvestment Act of 2009 which promises various advantages for the purchase of natural gas refueling equipment and home refueling appliances, the time has never been better for Americans to take the step toward becoming a more self-reliant nation.
Currently, Sentor Orrin Hatch (Utah) teamed with Texas oil giant T. Boone Pickens along with support from Senate Majority Leader Harry Reid and Senator Bob Menendez of New Jersey, are promoting new legislation that would support and promote the purchase and use of natural-gas powered vehicles through tax incentives.
The proposed bill would extend tax credits for 10 years for the purchase of natural-gas vehicles, for installing refueling outlets and for converting regular gas-fueled cars to natural-gas. The bill would also allow new natural-gas vehicle manufacturing plants to write off 100 percent of the costs to build the plant. The choice to utilize natural-gas could prove to save Americans money and help the environment at the same time.