Political issues endanger U.S. electric vehicle tax credits

Last updated Oct 13, 2010 — 1 views

“Electric car supporters are getting what they wanted — a Senate cloture vote on pending EV legislation that could send the bill to the floor during the lame-duck Congressional session next month,” reports CBS Business News. “The good news is that the legislation, S.3815, coupling EV subsidies with rebates for natural gas vehicles, has been freed from problematic ties to the Bush tax cuts.”

“But the bad news is that even if it does come up for a stand-alone vote Nov. 17 or later, the “Promoting Natural Gas and Electric Vehicles Act of 2010” is likely to fail by a wide margin, says Robbie Diamond, the head of the influential Electrification Coalition. The problem is that oil spill money would underwrite the bill…”

Read more at BNET.com

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In an related post on Sept. 23, 2010, CBS Business News editor Jim Motavalli wrote…

“One of the federal provisions easing the introduction of electric cars in the marketplace is an income tax credit for homeowners and business covering 50 percent of the installation of an EV charging station (up to $2,000). It’s a really useful way to minimize the pain of putting in costly infrastructure, but it’s set to expire Dec. 31, and despite overwhelming bipartisan support in both houses of Congress, it could well die without reauthorization….”

Read more at BNET.com
 



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