The present invention is directed to a low VOC ultra high solids thermosetting coating composition. A polymeric component of the composition includes a low molecular weight polymer polymerized from a monomer mixture containing less than 45 percent by weight of at least one active hydrogen containing monomer. The polymerization takes place in the presence of a reactive diluent. By including the reactive diluent in the polymeric component of the composition, the amount of solvent used in the composition can be substantially reduced, while still providing a pot mix of the composition with a viscosity sufficient to permit efficient coating application. The coatings from the composition are durable; glossy; impact and solvent resistant; and adherent to a wide variety of substrates, such as automobile bumpers, road surfaces and office equipment. The surface of these coatings when subjected to scuffing or surface marring action can be substantially restored to its original condition by simply buffing or polishing the marred or scuffed surface. The invention is also directed to include a combination of chemicals in the thermosetting composition containing an isocyanate cross linking component. Such a combination simultaneously increases the pot life of the pot mix while decreasing the drying time of a coating from the pot mix at ambient temperature over a wide variety of substrate surfaces.