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President Obama signed into law two pieces of legislation extending alternative fuels tax credits and removing the federal Corporate Average Fuel Economy (CAFE) program credit cap for bi-fuel natural gas vehicles (NGVs).
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President Obama has extended a tax benefit that increases small-business expensing and bonus depreciation, which would allow additional expensing for new vehicles and other equipment placed into service by the end of the year.
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Fleet managers will see an increase in acquisition cost, which could cause many to wait before diving into new fuel technology headfirst.
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The nation's largest group of medium- and heavy-duty truck drivers criticized President Obama's new fuel-economy rules, which they said would put the price of new trucks out of reach of many truckers.
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President Barack Obama will direct federal agencies on February 18 to develop higher fuel economy standards for medium- and heavy-duty trucks over the next two years by March of 2016.
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President Barack Obama has proposed setting up a federal energy security trust to fund development of alternative vehicle development by repealing subsidies to the oil and gas industry.
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President Obama urged the nation to shift more cars and trucks to natural gas as "the bridge fuel that can power our economy with less of the carbon pollution that causes climate change."
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According to the White House, Charlotte, N.C.'s Mayor Anthony Foxx made a major investment in Charlotte’s transportation infrastructure, which helped improve the region’s economy.
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DETROIT – President Barack Obama recently visited Detroit Diesel Corporation to recognize that the company's Detroit DT12 and the new Detroit DD15 will be produced at the Detroit brand manufacturing headquarters in Redford, Mich.
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A total of 13 automakers have announced their support for the standards, according to the administration.
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