H.R. 9780 · 118th Congress
Vehicle Energy Performance Act of 2024
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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
CastenSponsor1 cosponsor · 1 D
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill creates a refundable tax credit for new qualified high energy performance motor vehicles. The bill also modifies the calculation of the excise tax on fuel-inefficient vehicles (gas guzzler tax).
What it does: CRS summary · Introduced in House · Sep 24, 2024
Vehicle Energy Performance Act of 2024
This bill creates a refundable tax credit for new qualified high energy performance motor vehicles. The bill also modifies the calculation of the excise tax on fuel-inefficient vehicles (gas guzzler tax).
The amount of the tax credit is based on a vehicle’s energy performance in the current and prior model year in comparison with the median and best vehicle energy performance overall in the prior model year. The maximum tax credit allowed is $5,000 beginning with model year 2026.
The bill defines a new qualified high energy performance vehicle as any passenger automobile or light truck with a greater than median energy performance as compared to the same passenger automobile or light truck for the prior model year. A vehicle’s energy performance is based on miles per gallon-gasoline equivalent (MPGe).
The bill requires the Department of the Treasury to publish the median and best vehicle energy performance for the model year by December 1, 2025, and for each year after, based on information reported by vehicle manufacturers.
Finally, the bill imposes an excise tax on vehicles with low energy performance (beginning with model year 2028), which is based on a vehicle’s energy performance in the current and prior model year in comparison with the median and best vehicle energy performance overall in the prior model year. Under current law, the gas guzzler tax is imposed on vehicles that do not meet a fuel efficiency standard of at least 22.5 miles per gallon (MPG).
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Vehicle Energy Performance Act of 2024
Latest action (Sep 24, 2024): Referred to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Policy area: Taxation · Origin: House · Introduced: Sep 24, 2024
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.