March 4, 2003

U.S. government offers tax incentives to purchase alternate fuel vehicles

Washington DC, March 3, 2003 – The “Clear Act” legislation, introduced on Monday by U.S. Senator Orrin Hatch and U.S. Rep. Dave Camp, provides tax credits to U.S. citizens to help purchase vehicles with advanced technologies with breakthrough fuel economy and emission performance during early market introduction. Tax credits will be available to purchase or lease a variety of technologies and alternative fuels vehicles, including, fuel cells, hybrids, dedicated alternative fuels, and battery electric.

Groups who expressed their immediate support for the Clear Act legislation included Ford, Toyota; Honda; the Union of Concerned Scientists; Natural Resource Defense Coalition; Environmental Defense; and the American Council for an Energy Efficient Economy.

“Consumers are willing to consider advanced technology vehicles like our hybrid electric vehicle the Ford Escape HEV which comes to market the end of this year,” said Janet Grissom, Ford Vice President for Washington Affairs. “Consumer demand is needed to reach sustainable volumes and bring costs down for these advanced technologies.”

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