Study measures impact of Propane Gas Act

December 12, 2011 By    

The Propane Green Autogas Solutions Act (Propane Gas Act) of 2011 offers significant economic growth and environmental and energy security benefits to the American economy, according to a study released by the National Propane Gas Association (NPGA), as federal alternative fuel tax credits were set to expire at year’s end. The legislation would extend for five years tax credits for propane used as a motor fuel, propane autogas vehicles and propane autogas refueling equipment. The study performed by ICF International projects that the Propane Gas Act’s impact on jobs and the economy will be significant. The growth in propane vehicle sales and use created by the tax credits will generate an increase in economic activity that peaks at between $4 billion and $5.7 billion per year in 2016. That translates to between 30,000 and 42,000 new jobs created by 2016.

Kevin Yanik

About the Author:

Kevin Yanik is the senior editor of LP Gas Magazine. Contact him at kyanik@northcoastmedia.net or 216-706-3724.

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