Senators Richard Burr of North Carolina and Saxby Chambliss of Georgia, said their bill (S. 3535) would move the country toward cleaner domestic fuel sources through financial incentives.

According to a bill summary, the measure would expand US use of natural gas with incentives for vehicles run by the fuel, including requirements for federal purchases of natural-gas fueled vehicles and extending income tax credit for vehicle purchases.

For nuclear power, the bill would increase loan guarantees, provide a 15-year accelerated depreciation period for new plants, a 10% investment tax credit and launch a policy for recycling spent nuclear fuel.

The legislation also would expand existing tax credits for buying electric vehicles and charging facilities and would order federal agencies to identify barriers to getting EVS to the market.

For renewable energy, the bill would extend investment and production tax credits through 2019.

The Senate currently is considering how to move an energy and climate change policy forward that would move the US economy to cleaner fuels and cap greenhouse gas emissions. A group of senators plan to meet with President Barack Obama on the matter Tuesday.

--Cathy Cash, cathy_cash@platts.com