Category: #IndustryNews

California Air Resources Board (CARB) staff invites you to participate in a public workshop to begin discussion of potential proposed amendments to the In-Use Off-Road Diesel-Fueled Fleets Regulation (Off-Road Regulation). The goal of these amendments would be to reduce emissions of criteria pollutants and toxics from off-road diesel vehicles operating in California, beyond the reductions being achieved via the ongoing implementation of the existing Off-Road Regulation.

Large entities (fleet owners, businesses, government agencies, municipalities, brokers, etc.) will report information about their vehicles over 8,500 lbs.

Affected entities will need to report general entity information, home-base locations, and information about their vehicles (including off-road yard trucks) and how the vehicles are operated.

President Biden has previously expressed his intent to modify numerous current and past tax policies while he was on the campaign trail. Since the Democratic party now has narrow control over both the House and Senate, the possibility for tax change is much more likely. Many professionals believe that President Biden, with the help of Congress, will introduce future legislation that contains significant tax policy and position changes.

In a press release, AGCO addressed a recent SEC filing from its commercial partner and shareholder Tractors and Farm Equipment Limited (TAFE), which owns a 16% stake in AGCO. In November 2020, TAFE filed a report with the SEC requesting AGCO separate its CEO and Chairman roles “to better fulfill the board’s duty of oversight of the company,” as well as the following:

Deere & Company reported net income of $1.224 billion for the first quarter ended Jan. 31, 2021, or $3.87 per share, compared with net income of $517 million, or $1.63 per share, for the quarter ended Feb. 2, 2020. Worldwide net sales and revenues increased 19% in the first quarter of 2021 to $9.112 billion. Equipment operations net sales were $8.051 billion for the quarter, compared with $6.53 billion in 2020.

The Newsom Administration released information today regarding the creation of a new statewide COVID-19 vaccine delivery network. The vaccine distribution and operations effort will be led by Yolanda Richardson, Secretary of the Government Operations Agency, in consultation and partnership with Dr. Mark Ghaly, Secretary of Health and Human Services, and the California Department of Public Health.

This morning, the California Department of Public Health (CDPH) announced that they were lifting the Regional Stay at Home Order statewide. Three regions – San Joaquin Valley, Bay Area and Southern California – were still under this public health order due to their limited ICU capacity, however four week projections show their ICU capacity hitting the threshold allowing the region to exit the order.

This morning, Governor Gavin Newsom presented his proposed $227 billion budget for the 2021-2022 fiscal year, of which $164.5 billion is from the General Fund. The Governor’s proposed budget relies heavily on one-time expenditures, avoiding long-term liabilities, since the State’s out year projections predict reduced revenues.