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Supporters of EVs say that removing the tax incentive will hurt EV sales

One of the ways that the federal government in the U.S. is trying to push electric vehicles is by offering tax incentives. Those who purchase new electric vehicles are eligible for up to a $7,500 tax credit from Uncle Sam (although President Obama in 2012 wanted to bump that figure even further to $10,000).
 
Some states have also been offering their own tax incentives to encourage residents to “go green.” Notably, California offers up to a $2,500 rebate for the purchase of electric vehicles like the Chevrolet Spark EV or Fiat 500e.
 
Georgia has also offered generous perks in the past, but a new pending bill would eliminate the state’s current [up to] $5,000 tax credit. If the bill passes, it would eliminate the tax break no later than April 1.


2013 Nissan Leaf
 
Advocates of EVs argue that if the state eliminates the tax break for EV buyers it will significantly impact the sales of EVs in the state. But even with the generous tax credit in place (coupled with the federal tax credit), just 1.1 percent of new vehicle registrations in Georgia between January and November were EVs.
 
Despite the higher purchase price of EVs compared to the fossil fuel-burning counterparts, supporters maintain that they are on average a third less costly to maintain/operate over the life of the vehicle.
 
“This frees up a significant amount of money for that consumer, that is then available to stimulate Georgia’s local economies,” EV owner Arthur Blake said. “The more miles driven, the more money saved.”

Source: Bizjournal





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