Flex Fuel Vehicles

On May 15, 2008, Senator Thune (R-SD) introduced the Flex Fuel for All Americans Act (S.3025).  The legislation would amend the IRS code to allow a credit against tax for the purchase of flexible fuel vehicles (FFVs).  The credit would vary from $1,000 to $1,500 per vehicle depending whether or not the vehicle's fuel efficiency running on the blended fuel versu its efficiency running on gasoline or diesel.  As proposed, the credits would be available Jan. 1, 2009 through the end of 2015.  The bill has been referred to the Committee on Finance.