Jump to content
Create New...

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


pow

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)

Link to comment
Share on other sites

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
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.



×
×
  • Create New...

Hey there, we noticed you're using an ad-blocker. We're a small site that is supported by ads or subscriptions. We rely on these to pay for server costs and vehicle reviews.  Please consider whitelisting us in your ad-blocker, or if you really like what you see, you can pick up one of our subscriptions for just $1.75 a month or $15 a year. It may not seem like a lot, but it goes a long way to help support real, honest content, that isn't generated by an AI bot.

See you out there.

Drew
Editor-in-Chief

Write what you are looking for and press enter or click the search icon to begin your search

Change privacy settings