Obama Calls for 75% Budget Increase for Vehicle Research
April 11, 2013 11:00 AM
comment(s) - last by
Obama continues to press for more fuel-efficient vehicles with new budget proposal
Despite the fact that consumers are not adopting electric vehicles and hybrids in force, the Obama administration continues to push ahead encouraging new vehicle research and broader availability for electric vehicles and hybrids. The federal government has handed out loans to help spur research and development to bring more fuel-efficient vehicles and other green technologies to market, and those loans have backfired on several occasions.
While Tesla Motors by all accounts
seems to be thriving
, producing upwards of
, some of its competitors haven’t been so lucky. Fisker was one of the recipients of a large government-backed loan and the company is expected to
President Obama has sent his 2014 budget proposal to Congress this week and while many programs and services are seeing their budgets cut, Obama is calling for a massive boost in money available for vehicle research. President Obama wants to increase the Energy Departments vehicle research budget by 75% to $575 million.
Tesla Model S assembly line [Image Source: Tesla Motors via Flickr]
Obama also wants to create a $2 billion trust fund to research ways to wean the country off foreign oil over the next 10 years.
"We'll continue our march toward energy independence," said Obama.
Obama is also calling for provisions in his budget to help jumpstart sagging electric vehicle sales. The president wants to increase the tax credit for electric vehicle purchases
from $7,500 today to $10,000
. With the current tax credit, the electric vehicle buyer takes the tax incentive as a discount on their yearly taxes. Obama's new plan would allow consumers to take the discount at the point of sale as a rebate.
The budget also wants to accelerate research and development for emerging battery technologies and new manufacturing processes to allow the automotive industry to produce cheaper electric vehicles with better range and faster charging capability.
This article is over a month old, voting and posting comments is disabled
4/12/2013 4:32:05 AM
Ok, lemme get this straight. You want to increase the amount of "Vehicle Research" by 75%. But on the other hand, you want to take money from: Social Security, Military Retiree Benifits, and Public Works (national parks, ect.) to name a few. Just to give it to people like Fisker, and Alt Fuels (ie the Corn Lobbys' ethanol garbage). Where we will never see any real benifit, and is a waste of taxpayer money when they file Bankruptcy. Thanks a lot!
"I modded down, down, down, and the flames went higher." -- Sven Olsen
Fisker Automotive Expected to File Chapter 11 Bankruptcy This Week
April 10, 2013, 8:52 AM
Tesla Now Shipping 500+ Model S EVs Weekly
March 22, 2013, 12:03 PM
Tesla's Elon Musk Vows to Pay Off $465M Government Loan Within Five Years
February 28, 2013, 8:53 AM
Obama Thinks $7,500 EV Tax Credit Isn't Enough, Proposes Increase to $10,000
February 15, 2012, 4:40 PM
Porsche Macan V6 Diesel Bound for the U.S.
December 17, 2013, 10:36 AM
GM Could Release New EV, Updated Chevrolet Volt in 2016
December 16, 2013, 11:30 AM
Ford Says 70% of its Cars Will Have Start-Stop Tech by 2017
December 16, 2013, 10:57 AM
EPA Says Vehicle Fuel Efficiency Has Hit All-Time High
December 13, 2013, 10:04 AM
Carbon Fiber to Lower BMW i3 Repair, Insurance Costs
December 12, 2013, 2:12 PM
Cadillac ELR is Priced Out of Its League According to Consumer Reports
December 11, 2013, 11:51 AM
Most Popular Articles
Report: Windows 8.2 Revives Start Menu, Runs Metro Apps in Desktop Mode
December 10, 2013, 2:56 PM
Chinese Media Puts Positive Spin on Its Smog Problem, Touts 5 "Benefits"
December 11, 2013, 12:39 PM
China's Lunar Rover Enters Orbit, Prepares for Historic Sat. Landing
December 13, 2013, 5:00 PM
The History of Normandy: How Nokia Plotted a Low-End Android Line
December 11, 2013, 8:12 PM
Metro-Enabled Firefox Browser Expected to Land After Two Years of Work
December 12, 2013, 5:21 PM
Latest Blog Posts
Justice Leaks Details of Next HTC One Two Flagship Phone
Dec 5, 2013, 4:04 PM
Global Cyber Espionage Concerns Reveal Growing Cyber Armies
Nov 29, 2013, 11:04 AM
Is The Period Becoming an Expression of Anger?
Nov 26, 2013, 2:02 PM
NSA and Congress -- You Will Never Kill the Constitution, It's an Idea
Nov 10, 2013, 2:00 PM
AT&T Explores $100B+ USD Deal to Acquire Vodafone's European Operations
Nov 4, 2013, 7:34 AM
More Blog Posts
Copyright 2013 DailyTech LLC. -
Terms, Conditions & Privacy Information