Print 40 comment(s) - last by topkill.. on Jan 31 at 12:07 AM

Joe Biden was plugging upcoming EV initiatives on the road at an Indiana battery maker.  (Source: Darron Cummings Associated Press)
Biden hopes to add 300,000 more $7,500 credits

U.S. Vice President Joe Biden, speaking to workers at a battery assembly plant in Greenfield, Indiana, plugged U.S. Sen. Carl Levin's (D-Michigan) plan to expand tax credits for EV buyers and make them immediate.

Under the new proposal the cap on the number of credits per electric vehicle manufacturer would be bumped from 200,000 to 500,000.  Additionally, people would receive the credit as a direct discount, rather than having to wait to get the money back when they filed their yearly tax return.

The Vice President describes, "Just like the Cash for Clunkers program. You won't have to wait."

The measure is backed by the Alliance of Automobile Manufacturers -- an alliance between Detroit's Big Three, Toyota Motor Corp. and eight others.  In a comment to The Detroit News, they state, "[The government] can play a critical role in developing the electric infrastructure, supporting R&D for advanced batteries and providing consumer incentives."

Along with those tax incentives to buyers, Vice President Biden was also promoting the Obama administration's budget, which will be submitted to Congress next week.  That budget contains $8B USD for investing in advanced energy technology, including electric vehicles.  Over the last couple years the Vice President has been a big proponent of investment in battery systems and electrified vehicles.

Of that, $590M USD will be applied directly to vehicle research.  That includes $200M USD to help up to 30 communities expand their electric vehicle infrastructure, by adding support for chargers, etc.

Biden's visit follows one by President Obama to green small businesses in Wisconsin, plugging alternative energy research.

The Obama administration's budget will like meet with opposition at the Republican-controlled house, but the Vice President was optimistic, remarking, "We're going to reshape what Americans drive. In turn we're going to reshape America itself." 

Comments     Threshold

This article is over a month old, voting and posting comments is disabled

RE: just what we need
By HrilL on 1/27/2011 6:26:34 PM , Rating: 5
This is to be expected from our leaders that want to support the Chinese economy more than ours.

How about the government spots spending money they don't have already! NO more new spending period. Just stop already or cut programs we don't need if they think we should spend money on something else. But until we're out of debt we should just stop spending period. If its not critical then the program should be cut. All we need is Education, Social security, and Defense Anything else is just a waste of money. Giving poor people money and pay their health bills doesn't solve any problems it creates them.

Also why should my tax dollars go to buying someone else a car? If they want a car then they should pay for it like I am. If you can't afford the car you want then you need to get one you can afford.


RE: just what we need
By PresidentThomasJefferson on 1/27/2011 9:58:54 PM , Rating: 2
Here's the economics data you asked about earlier by economist/bank CEO multimillionaire entrepeneur Warren Mosler - -and read the PDF short economics paper by bank CEO/economist Warren Mosler "7 Deadly Innocent Frauds of Economic Policy" with empirical evidence for tax cuts as well as gov spending(without tax increases nor borrowing)
htttp:// 10/06/7DIF.pdf

...Here's a quick primer on Modern Monetary economics(must read!)

Good daily analysis of finacial/economics data great for investing:

1) (Warren Mosler, bank CEO/economist)

2) -economist/MBA -also his daily analysis w/ empirical evidence/data at
-and data showing how inflation is caused by supply shocks in energy/oil (like OPEC's oil embargo & 400% rise in oil prices in the 1970s) at


1a) (download the "7 Deadly Innocent Frauds of Economic Policy" as it should be mandatory reading for any economics/MBA class)


1b) he's also running for Senate at & can be one of the few knowledgeable economists/businessman that can do good in the senate

2a) --more data on country comparisons on conservative fiscal austerity is wrong

2b) -Bill Mitchell explains why Wall St Journal & Alessina/Mankiw are wrong using flawed data from 3rd world countries who don't have their own non-convertible currencies(thus totally unlike the US,Japan,Singapore system
(Japan is at about 200%+ deficit debt & still 0% interest rates, 0% inflation, & ~4% unemployment & about 3% GDP for the past 10 yrs, Singapore is 117%+ deficit debt & still 0% interest rates, 3% unemployment, & 4% GDP vs. the US at 80%+ deficit debt, 0% to 3% interest rates,9.7% unemployment, 1% to 2% GDP)

See More

RE: just what we need
By PresidentThomasJefferson on 1/27/11, Rating: 0
RE: just what we need
By Kurz on 1/28/2011 10:25:37 AM , Rating: 2
False inflation is a TAX!!!

RE: just what we need
By mmcdonalataocdotgov on 1/28/2011 7:18:31 AM , Rating: 2
I thought we weren't allowed to post advertisements on DT?

RE: just what we need
By bobny1 on 1/29/2011 10:37:31 AM , Rating: 2
Washington's plan is to fully capitalize China, bankrupt their government and take over the country. That will guive them an additional 1+ billion suckers to tax and bury in credit card debt...LOL

"If you look at the last five years, if you look at what major innovations have occurred in computing technology, every single one of them came from AMD. Not a single innovation came from Intel." -- AMD CEO Hector Ruiz in 2007

Copyright 2016 DailyTech LLC. - RSS Feed | Advertise | About Us | Ethics | FAQ | Terms, Conditions & Privacy Information | Kristopher Kubicki