Jump to content
Sign in to follow this  

House Passes Bill: Would Take Money from Big Oil to Give Plug-in Car Tax Credits

Recommended Posts

From GM-Volt.com...

We have heard that the Chevy Volt could come with a roughly $5000 price premium to early adopters due to the costs of the lithium-ion battery and specialized low-power accessories.

An option that worked for early Prius adopters is the possibility of a U.S.government tax credit to people buying Volts. This could help offset cost and help get the country off petroleum.

As comments on this site had varied both for and against such a credit, it seemed a good idea to take a poll.

The final result of that poll was for 483 respondents 94% voted in favor of tax credits and 6% against.

Yesterday bill HR 5351 was voted on in the house, and was passed. The bill takes tax money from oil companies, to the tune of $18 billion over ten years, and uses it to pay for among other things a plug-in tax credit of $4000 plus $200 per kWh for cars with a battery capacity greater than 5 kWh.

Thus, if this bill were to become law, Big Oil would give you $7200 back if you bought a Volt.

Not surprisingly, Big Oil doesn’t like this idea much. A similar bill made it through the house last summer but died in the Senate.

Also, President Bush has already said he’d veto this bill if it makes it to his desk.

Source (AP)

Share this post

Link to post
Share on other sites

Umm let us see.

Plug In Money <--- Big Company <--- Increased Gas Prices <--- Common People Pay

Yeah good economics Lawyers (Liars).

Share this post

Link to post
Share on other sites

it's called wealth redistribution... very socialist.

Edited by loki

Share this post

Link to post
Share on other sites

Yeah, no. Bush will not sign this reactionary rubbish.

Share this post

Link to post
Share on other sites

Your content will need to be approved by a moderator

You are commenting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

About us

CheersandGears.com - Founded 2001

We ♥ Cars

Get in touch

Follow us

Recent tweets



Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.