Renew the Hybrid Vehicle Incentives

Timonium, Maryland - Congressman Ruppersberger wants to encourage consumers to purchase environmentally friendly vehicles, to reduce our dependence on foreign oil and to reduce greenhouse gas emissions.

He has introduced HR 5078, the Common Sense Automobile Efficiency Act of 2004, which will extend tax credits for purchasing Hybrid and Fuel Cell vehicles that are due to expire soon. The bill will also renew tax credits for small ethanol and bio-diesel producers.

"The tax incentives provided by this bill will not only save consumers money -- but spur market demand for more fuel-efficient vehicles. This bill will help automakers invest in the production of alternative fuel motor vehicles -- and accelerate the introduction of newer models into the marketplace. " said Congressman Ruppersberger.

Consumers would receive a tax credit of up to $1,000 for new hybrid gas-electric powered vehicles and up to $4,000 for new fuel-cell vehicles.

###

Back to the Press Room