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He wants to make EVs more attractive to middle class Americans

For the most part, mainstream consumers aren’t exactly flocking to electric vehicles since they aren't always practical for everyday use. Two of the biggest downsides to EVs include a higher MSRP compared to a comparable gasoline-engine vehicles and a limited driving range before it must be recharged.
 
The U.S. government already offers a tax credit of $7,500 on eligible EVs to help soften the blow when it comes to pricing, and one congressman wants to further increase that federal tax credit.
 
Vermont Rep. Peter Welch (D) announced this week that he wants to make it easier for consumers to purchase EVs by increasing the tax credit to $10,000 via the Electric CARS Act.
 
In addition to boosting the credit by $2,500, it would allow the tax credit to be applied at the point-of-sale instead of when the individual’s taxes are filed. The bill would also be tailored to better accommodate “many middle-income Vermonters do not have enough tax liability to qualify for the full tax credit.”


Vermont Rep. Peter Welch plugging in a Ford Fusion Energi
 
“One of the biggest contributors to climate change in Vermont and across the country is vehicle emissions. It is essential that we transition to cleaner, more efficient transportation like electric vehicles,” said Rep. Welch said an electric vehicle charging station near the Vermont Statehouse.
 
“The battery life and fuel efficiency of electric vehicles are steadily improving making them more accessible and practical to drive. This legislation will make them more affordable while saving Vermonters money at the gas pump and reducing their environmental footprint.”
 
Welch says that he plans to introduce new legislation to increase the EV tax credit when he returns to Washington.
 
It should be noted that Rep. Welch isn’t the only politician that has called for an increase in the federal tax credit for EVs. President Obama also called for increasing the credit to $10,000 back in 2012.

Sources: Christian Science Monitor, Congressman Peter Welch's Office Website



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RE: And while we're at it::
By Spuke on 5/5/2014 1:04:07 PM , Rating: 2
It doesn't have to be all or nothing, that's an extremists attitude. If tax breaks need to exist, then there should be a limit on how much, how many, etc.


RE: And while we're at it::
By Rukkian on 5/5/2014 1:14:01 PM , Rating: 2
I don't agree with this tax break either, but not for the reason it typically comes down to: people that don't benefit from this don't like it and think it is wrong.

I don't have a problem with this when compared to all of the other credits, just all the credits in general. I don't see why we should be helping people buy a house, buy a car, have kids, etc, etc, etc. Just get rid of all the deductions, switch to a much lower flat tax (either usage or all income from all sources) and can (or at least cut it down to almost nothing) the IRS. A big chunk of the government is gone, filing taxes is easy (or not necessary) and nobody needs to get upset that somebody else is getting a tax break.


RE: And while we're at it::
By Spuke on 5/5/2014 10:49:43 PM , Rating: 2
quote:
ust get rid of all the deductions, switch to a much lower flat tax (either usage or all income from all sources) and can (or at least cut it down to almost nothing) the IRS.
I would be fine with this.


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