Last week, The American Boating Congress (“ABC”) took place in Washington, D.C., from May 11-13, 2022. The ABC is the marine industry’s preeminent advocacy event, led by members of Congress and administration officials, National Marine Manufacturers Association (“NMMA”), American Sportfishing Association (“ASA”), and Center for Sportfishing Policy (“CSP”). Over the course of the three day legislative conference, recreational boating industry leaders took to Capitol Hill to discuss timely political and policy updates, formulate public policies, and present a unified front on issues that impact marine businesses.

There were numerous contributing U.S. Congress representatives and influential policy makers with the shared focus of expediting the proposed Fueling America’s Security and Transportation with the FAST Electricity Act of 2021 (“FAST”).

Introduced in 2021 by Senator MariaCantwell (D-WA) and Senator Debbie Stabenow (D-MI), the FAST Electricity Act proposes new federal tax incentives designed to accelerate the manufacturing and adoption of all types of electric transportation, including boats, ships, planes, and even industrial equipment such as forklifts and tractors. The bill also aims to initiate a 30% investment tax credit for any electric vehicle that is not an on-road passenger car or truck. The proposed bill also would provide a 30% investment tax credit for recharging of battery and hydrogen refueling infrastructure, which will be crucial in the expansion of electric vehicles.

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