Biden Pushes Congress to Boost Electric Car Tax Credits
January 27, 2011 5:03 PM
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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
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."
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RE: just what we need
1/28/2011 8:52:52 AM
Afther that last link you really should post
as well and point out that total government spending (as there's more government then just obama) is already a whopping $6.7 trillion, and still going up.
To give this any meaningfull comparison, that's about $1,000,000,000,000 MORE then the entire GDP of China.
And that $1,5 trillion deficit...well... total government spending is $6,7 trillion while total government revenue is $4.46 trillion, so the TOTAL government deficit is actually $2.24 trillion. That's already more then the federal revenue is pulling in!
And yes, the GDP might be $14.5 trillion. Now. I watched it drop $2.5 trillion in 3 months during the financial crisis which marked the first time your debt to GDP was over 100% (i looked right after obama's stimulus came into effect to see what kind of effect it had).
At $14 trillion debt, it wont be long before you hit and stay above that 100%. And unlike GDP, there's no way in hell that'll drop $2.5 trillion in 3 months. At this point it's more likely it accumelates another $2.5 trillion in 3 months.
Oh wait did i say $14 trillion? that's just national debt. Debt guarranteed by Tax payers. Who also have other debts. So the total debt of the USA is $55,6 trillion, or, nearing 400% of GDP.
Oh and really, the time of speaking with your vote is over. Go play this game:
Never mind the entire game, except the way how you win. You invest heavily in the democrats, you make them win, make all sorts of unpopular decisions, which will make people swing republican, so you invest in them before the next elections so they do what you want as well. At the end of the game the vote will swing 100% to the other side, while your building more and more plants that convert people into oil, and there's not a protestor in sight. That's exactly what's happening today, only instead of making people into oil people are made into slaves.
I really wonder when this whole facade ends so we can start making stuff better again - no matter how hard it is. For no matter how imposing the above numbers are, wether you hold one or one trillion dollars in your hand, their both worth about a unicorn. This is one matrix i'd really like to unplug from.
"A politician stumbles over himself... Then they pick it out. They edit it. He runs the clip, and then he makes a funny face, and the whole audience has a Pavlovian response." -- Joe Scarborough on John Stewart over Jim Cramer
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