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FedEx Calls for Tax Credits for Electric Vehicles

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11/15/2010 2:00:00 PM

FedEx Corp. has joined utilities, vehicle manufacturers and other companies in pushing for a tax credit for fleets that buy electric vehicles, Bloomberg reported.

FedEx CEO Fred Smith spoke at a news conference in Washington Monday, saying electric-vehicle use is “the single most important initiative� to reduce U.S. reliance on imported oil.

Smith is a member of the Electrification Coalition, a group of 21 executives pushing for the credit and to extend a tax credit for electric vehicle charging stations, Bloomberg said.

Rep. Ed Markey (D-Mass.) said at the news conference that he “would almost guarantee� a tax credit within two years.

Coalition members include Pacific Gas and Electric Co.,  Nissan Motor Co. and Siemens AG.

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Emil Estafanous, CPA, CFF, CGMA