Senate Votes to Renew DERA
The Diesel Emissions Reduction Act (DERA) is a law that allows the federal government to offer grants and rebates that provide financing solutions to trucking companies that want to replace their old truck with a new one, or even just retrofit the engine to make it run more smoothly. The program, ending soon, has now been voted to be extended by the Senate through 2029.
Details
The program costs taxpayers approximately $100 million annually, which when considering the costs of other things the federal government spends money on, is a worthwhile investment. This is because despite all of the villainization of the diesel truck with hopes to replace it with alternative energy sources for transportation, diesel trucks have become cleaner and cleaner over time. Two trucks produced in 2024 produce as much emissions as one from 2010, with 60 2024s being equal to one 1988.
Indeed, one of the best systems regulators have enacted in terms of managing pollution is phasing out older vehicles, such as California enacting a ban on engines from before 2010. Because newer vehicles come with numerous perks beyond pollution, such as better fuel mileage and technology perks such as electrical outlets in the cabin, it is better at attracting truck fleets to cleaner alternatives than using the hammer of the law to threaten with fines.
Conclusion
As great as it is to hear that the Senate passed this motion to extend DERA, it still has to go through the House of Representatives and the president’s desk for a signature of approval. Though unlikely, it is possible that Joe Biden will veto it as a move to make the transition to alternative fuel sources, namely, hydrogen and electricity, a better choice than moving on to a cleaner diesel truck.
While the DERA program helps get truckers into a newer vehicle if they have a replacement, TopMark Funding can work for you to help you get a new or new-to-you truck or trailer regardless of whether or not an old rig is going to trucker heaven. Read on below for more on what we can do for your fleet!
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TopMark Funding is a top-rated semi-truck financing and trailer financing company located in Roseville, CA. We specialize in commercial trucking and heavy equipment. Our mission is to become your long-term financial partner by helping you grow your trucking business and fleet.
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