New billout bill: $4,168 tax credit for 4kWh plug-in

Discussion in 'Prius, Hybrid, EV and Alt-Fuel News' started by usbseawolf2000, Oct 1, 2008.

  1. usbseawolf2000

    usbseawolf2000 HSD PhD

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    WASHINGTON -- Congressional leaders have added $1 billion in tax breaks for plug-in electric vehicles to a $700 billion Wall Street bailout bill.

    The provision is one of a number of tax proposals added to the bill that failed the House Monday 228-205. The rescue package would grant the U.S. Treasury wide authority to buy distressed mortgage-backed securities and other troubled financial instruments, including car loans and student loans. The Senate is expected to vote this evening on the new 451-page bill.

    The provision would grant plug-in vehicles with at least a four-kilowatt battery pack a $4,168 tax credit. A vehicle like the extended range 2011 Chevrolet Volt with a 16-kwh battery would qualify for the maxium $7,500 tax credit for vehicles under 10,000 pounds.

    $1 billion plug-in tax credit in bailout bill | The Detroit News | detnews.com
     

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    #1 usbseawolf2000, Oct 1, 2008
  2. PriusSport

    PriusSport senior member

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    Well, when you're talking about $700 billion for the government to get into the finance business, a billion here and a billion there is like chickenfeed--hardly noticeable. Who knows, they might even find a few billion for health care insurance palatable.
     
    #2 PriusSport, Oct 1, 2008
  3. Rybold

    Rybold globally warmed member

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    What is their total budget for the plug-in rebates?
    For example, once they have paid out a certain budgeted amount, say $3 billion, then the rebate program ends.
     
    #3 Rybold, Oct 1, 2008
  4. galaxee

    galaxee mostly benevolent

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    unfortunately,from the wording, it sounds like conversions are excluded. if that's the case, that's too bad.
     
    #4 galaxee, Oct 1, 2008
  5. SureValla

    SureValla Member

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    solar and wind tax credits were also extended. this is the big news here forget hybrid tax credits
     
    #5 SureValla, Oct 1, 2008
  6. Rybold

    Rybold globally warmed member

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    What GM and Ford don't want you to know!

    [​IMG]
     

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    #6 Rybold, Oct 2, 2008
  7. usbseawolf2000

    usbseawolf2000 HSD PhD

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    #7 usbseawolf2000, Oct 3, 2008
  8. usbseawolf2000

    usbseawolf2000 HSD PhD

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    So true! The bill gives more incentives to plugin versions of the monster heavy weights.

     
    #8 usbseawolf2000, Oct 3, 2008
  9. jelloslug

    jelloslug It buffed right out!

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    Cool! Now I can finally buy that hybrid Peterbilt I've had my eye on.
     
    #9 jelloslug, Oct 3, 2008
  10. Rybold

    Rybold globally warmed member

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    I can barely believe what I saw on the 405Fwy last night. Remember several years ago, when SUV's were "all the rage," and an aftermarket shop was making Peterbilt and Freightliner conversion SUVs? Well ... I never saw one ... until yesterday. A yellow Freightliner SUV was going southbound on the 405. Incredible!
     
    #10 Rybold, Oct 3, 2008
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