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Proposed Bill To Give Electric Vehicle Buyers $7,500 Credit Right When They Buy
As a way to help advance President Barack Obama’s goal to get 1 million new EVs on the road by 2015, U.S. Sen. Debbie Stabenow unveiled a legislative proposal on Monday that would give buyers of plug-in electric vehicles up to a $7,500 rebate at the point of purchase. Currently, buyers have to file their taxes to get the $7,500 federal rebate on electric cars, so receiving the credit right when they buy could really spur on EV sales.
The Charging America Forward Act would also award another $2 billion in grants to extend an existing public-private partnership to boost US production of advanced battery technologies. Additionally, businesses will get a tax credit for buying medium or heavy duty plug-in hybrid trucks until 2014. The credit would be worth between $15,000 and $100,000, depending on the size of the truck.
“Michigan is already a leader in emerging high-tech battery and electric car production,” Stabenow said in a statement. “Other countries are acting to develop their own advanced vehicle markets because they realize the tremendous economic potential this new technology represents.These initiatives will allow Michigan innovators to continue to out-compete the world and create new jobs here.”
Earlier today, the Obama administration said that the President’s goal of 1 million electric cars on the road within the next four years is achievable, according to an administration report.
While car manufacturers and salesman are happy for the added incentives, a few auto dealers are skeptical because they’re afraid that they’ll have a hard time getting the money back from the government for the discount they provided up front to the customer. However, any incentive to get potential buyers into the showroom is always beneficial in the long run.
Via Detroit News
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