Fuel economy has been and will be the guiding force for change for the manufacturers as well as for our politicians for the near future.
The business mileage reimbursement rate for 2019 increased 3.5 cents to 58 cents on Jan. 1 after two years of minimal change, the Internal Revenue Service announced late last year.
The recent U.S tax law changes created a problem for employers who use a non-accountable vehicle reimbursement plan. Negative feedback has some companies reconsidering the viability of offering company-provided vehicles to help key employees mitigate the adverse impact of eliminated tax deduction.
The Internal Revenue Service has increased the business mileage reimbursement rate to 54.5 cents from 53.5 cents for 2018. The new rate will go into effect on Jan. 1.
The state of California commissioned a report by CalTrans to look into the viability of a mileage-based tax on all vehicles to eventually replace the tax on fossil fuels.
California's Gov. Jerry Brown has proposed raising gasoline taxes and vehicle fees to raise $5 billion per year to repair the state's crumbling streets, highways, and bridges.
The Auto Truck Group is urging small businesses to take advantage of the federal Section 179 deduction on equipment that allows a deduction of as much as $500,000 on new and used equipment purchases.
The National Conference on Weights and Measures (NCWM) has voted to approve the diesel gallon equivalent (DGE) standard as a legally authorized method of sale for natural gas that is sold as fuel for vehicles.
I can envision internal and external political and economic pressures that could prompt the U.S. fleet market to migrate to a European fleet business model offering company-provided vehicles as a form of compensation.
The industry consensus is that fleet license & title services will become more expensive in future years as vehicle registrations are blocked for unpaid tolls & violations. Transaction fees will increase to offset DMV budget shortages.
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