Clean Fuels Vehicle Act of 2021

Senate Bill 2267 - Clean Fuels Vehicle Act of 2021: Overview, Status, and Impact

Hozzl · 2022-12-31T05:26:01Z

Explore the details of Senate Bill 2267 Clean Fuels Vehicle Act of 2021 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

12/31/2022, 5:26 AM

Congressional Summary of S 2267

Clean Fuels Vehicle Act of 2021

This bill allows a new business-related tax credit through 2031 for the production of flexible fuel vehicles (i.e., motor vehicles engineered and designed to be operated on a petroleum fuel and on a methanol or ethanol fuel, or on any mixtures of such fuels). The amount of such credit in a taxable year is equal to the product of $200, and the number of vehicles produced and sold by the taxpayer to an unrelated person in the United States.

The bill also repeals limitations on manufacturing incentives for dual fuel automobiles and repeals the maximum fuel economy increase for alternative fuel automobiles.

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Current Status of Bill S 2267

Bill S 2267 is currently in the status of Bill Introduced since June 24, 2021. Bill S 2267 was introduced during Congress 117 and was introduced to the Senate on June 24, 2021. Bill S 2267's most recent activity was Read twice and referred to the Committee on Finance. as of June 24, 2021

Bipartisan Support of Bill S 2267

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

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Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 2267

Primary Policy Focus

Taxation

Alternate Title(s) of Bill S 2267

A bill to amend the Internal Revenue Code of 1986 to provide a tax credit for the production of flexible fuel vehicles, and to amend title 49, United States Code, to restore certain flexible fuel vehicle credits.

Clean Fuels Vehicle Act of 2021