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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 500 cars/week, 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 file bankruptcy soon.
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.

Source: Detroit News

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RE: strange
By NoMas on 4/12/2013 4:20:35 PM , Rating: 2
Do you have any links to back up your assertions?

Here's a couple of links which sort of refute what you're claiming:

Quote from one of the links: "In 1996, HUD directed Freddie and Fannie to provide at least 42% of their mortgage financing to borrowers with income below the median in their area. This target was increased to 50% in 2000 and 52% in 2005. Under the Bush Administration HUD continued to pressure Fannie and Freddie to increase affordable housing purchases – to as high as 56 percent by the year 2008."

Seems the Bush administration was pushing for these loans, isn't that a Republican president by the way? Though if you read the links, they do mention that the Housing bubble wasn't the prime reason, seems the sub-prime loans that Wallstreet was dealing out were the primary reason, and I believe it was the Republicans that removed many of the regulations, but there is fault all around. Does this make you proud to be a Republican.

Now if you going to say that their is a conspiracy around Wikipedia providing this information, I'd like to point out that there are footnotes, included to backup these assertions. We know how some nutcases like to spin conspiracy theories.

I've heard many of the arguments that you're laying while watching the Presidental debate but instead of listening to the talking points of the candidates maybe look beyond that.

You do know Reagan raised taxes 11 times, right? He also grew the national debt from less than 1 trillion to greater than 2 trillion. Yes, he cut taxes during his first term but after that had to raise taxes 11 times to make up the shortfall that caused and borrow money to offset his shortfall. Let's not forget that his last year in office was rocked with the Iran-Contra affair which ended up with several of his staff in jail. Personally, I liked Reagan.

As to the unemployment numbers, if you have facts to back up what you're talking about please present them. This is the labor board that is presenting the numbers. Every president has used them since they started collecting them, but then just because a president you may not approve of is using the same agency, you claim there must be something funny about the numbers. Please, do you have any proof to backup your allegations? Even State unemployment numbers have improved significantly, some maybe not so much.

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