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 11:07:33 AM
Instead they are putting more restictions on domestic oil drilling, and want to eliminate the tax breaks that encorage new oil exploration.
Expect $4.00+ gas prices soon. Remember, gas prices where $2.00 when Obummer took office.
RE: just what we need
1/31/2011 12:07:16 AM
There you go genius. We have less than 5% of the worlds oil reserves, even when you include ANWAR and offshore drilling sites on the US coastline, and you think that is going to solve our problems? We use 20% of the worlds oil production. Is that higher math hard for you?
Yeah, let's give Exxon more money because the $456BILLION in revenue they had last year and the $45BILLION in profit...along with their ZERO $$ in taxes last year weren't enough. Give them some more money and everything will be so much better.
Were the $4 gas prices in 2008 Obama's fault too?
You have the intelligence of a baboon. You need to STFU and stop embarrassing your parents. What species were they anyway? Maybe a lemur and sloth? Which one was the lemur?
"We basically took a look at this situation and said, this is bullshit." -- Newegg Chief Legal Officer Lee Cheng's take on patent troll Soverain
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