McCain backs $5000 tax break for Volt, others
Presumptive Republican nominee for President, John McCain has wrapped up his tour and speaking engagement at General Motors, where the Arizona Senator discussed the U.S.'s current fuel situation and the proliferation of electric cars. Addressing the General's assembled workers, McCain said, "I would support tax credits for Americans who choose to buy the Volt and other automobiles that put us on track to energy independence." McCain later specified that the credit should be $5,000 as "an integral part of our ability to eliminate our dependence on foreign oil."
McCain has already issued his support for federal funding of research and development of battery-powered cars and made it clear that individual states should have the ability to set their own fuel economy standards.
[Source: Reuters Image: Bill Pugliano/Getty]
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Reader Comments (Page 1 of 4)
Kumail 3:07PM (7/18/2008)
a $5,000 tax break for those that can afford a $40,000 car, before option and accessories.
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Kumail 3:08PM (7/18/2008)
just great
you guys really need to add a "edit"button
Red 3:18PM (7/18/2008)
Correction:
A $5,000 tax break for those that can afford a $40,000 car that could've been a $30,000 car before option and accessories, had Lutz bought more time by offering both Chevy Cruze (plus requisite Pontiac and Saturn versions) and Chevy Beat (plus requisite Pontiac and Saturn versions) to the US and diverted some of the money needed for yet more "compact" CUVs to the project.
But that of course, would make too much sense.
geo.stewart 3:10PM (7/18/2008)
fuel economy is a national problem, not a state problem, and therefore should be nationally regulated.
as for the tax breaks, all for it. just make it for domestic cars. home governments already help out toyota, honda, ....
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Randy 3:27PM (7/18/2008)
Fuel economy is an individuals problems. Not a state or federal problem. Though tax incentives for high MPG cars should be there WITHOUT fines for low MPG vehicles.
If our eyes popped out of our heads when we read MPG stats versus Quarter Mile stats, rest assure auto makers would be at 200MPG right now and not 200MPH.
With that said. I hate the fact that I must use Foreign Oil.
The Other Bob 5:48PM (7/18/2008)
"With that said. I hate the fact that I must use Foreign Oil."
Buy an E-85 car. You will instantly use 85% less oil.
RJ 6:25PM (7/18/2008)
And instantly ensure 85% less farming land available.
Brandon 7:13PM (7/18/2008)
It doesn't translate into 85% less farming land availability.
AMcA 8:06PM (7/18/2008)
And don't forget - lots of good tasty foreign goes into every gallon of corn ethanol!
Kax02 10:27PM (7/18/2008)
"And instantly ensure 85% less farming land available."
Someone has never heard of government subsidized farming.
azzo45 3:10PM (7/18/2008)
$5,000 tax credit...Of course he does! He's trailing Obama in the polls & his Gas Tax Holiday made him look like a dope. Try a tax break for a Volt.
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baffledu2 3:15PM (7/18/2008)
McCain .... what a twit. Advocates electric cars to put us on a path to energy independence. Where does he think electricity comes from. Currently about 22% and growing every day of that electricity comes in the form of LPG from the Middle East. Soooooo we use less oil and use more LPG. WOW what a concept!
rypt 3:37PM (7/18/2008)
Surely electricity comes from coal and nuclear .. and as such as nothing to do with the middle east?
baffledu2 3:49PM (7/18/2008)
rypt .... read it and weep 22% and rising every day of the electricity generated in America is from Nat Gas. With the traditional source canadian fields in decline and ever rising demand the short fall is coming in those great big domed tankers from the M.E. There hasn't been an increase in coal or nuclear generating capicity in 20 years. Every increase in generating capacity has been Nat Gas.
Soooooooooo if we increase demand further by using electricity to power transportation the only source is the M.E.
ANONYMOUS 3:15PM (7/18/2008)
I just wonder what's going to happen to all those battries after the life of the car is up... can you say toxic waste?
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Kitko 3:17PM (7/18/2008)
Kumail is right, tax break looks good on paper in the election run-up, but break it down and there's a good old fasioned "give to those who already have" beating about the bush.
What about tax breaks for those buying small cars, or those who'd buy one but can't afford it so they buy an old truck....?
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Brent 11:26AM (7/19/2008)
Give tax breaks to someone buying an old truck!?
Dave 4:03PM (7/18/2008)
Red vs. Blue politics aside, I think tax breaks and federal incentives are an excellent idea. A government needs to decide what's best for society and no matter how you look at it (geopolitically, economically, environmentally), moving on to alt. fuels/energies is what is needed.
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Brian 3:22PM (7/18/2008)
Would the government please stay away from fuel economy standards!!! Automakers can't just flip a switch and make cars suddenly get great gas milage. Its the responsibilty of the consumer to choose!! You know what your getting into when you buy an SUV. Nobody made you buy one.
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Torqued 3:51PM (7/18/2008)
That's exactly the point. McCain is suggesting an incentive for individuals to chose a more fuel efficient vehicle.
This article is not about a mandatory CAFE standard that automakers have to meet.