Senator Proposes New EV, Hybrid Incentives
We already reported on President Barack Obama’s desire to alter tax credits for electric vehicles, and if one senator gets her way, electric and hybrid incentives could become even more bountiful.
Democratic U.S. Sen. Deborah Stabenow of Michigan proposed new legislation today that would not only call for a $7,500 rebate (instead of credit) for electric cars, but it would also extend some of the hybrid tax credits that have already expired.
The bill includes an extension of the hybrid tax credits for heavy-duty trucks, SUVs and cars — which expired last year — until the end of 2014. The credits could be worth up to $100,000. Large trucks that showed appreciable increases in city fuel economy over their previous models (10% to 20%) would be eligible for “hybrid” tax credits.
The measure also asks for sweeping tax subsidies for items ranging from smart grid systems and investments in energy storage properties, as well as $2 billion in grants for more investments in the construction of vehicle batteries.
Stabenow introduced the bill Aug. 5 under a previous session of Congress, according to GovTrack.us. Bills are often reintroduced in new sessions of Congress.
Despite the nuanced differences between Stabenow’s proposal and the Obama administration’s, both bills aim to make federal subsidies for electric cars more straightforward and consumer-friendly, as well as continuing to support less costly, but still fuel-efficient, hybrid options. The bill has failed to move past committee twice before.
Stabenow Proposes New Incentives for Electric Cars (Detroit News)