Obama Administration Wants To Increase Tax Rebates For Electric And Hybrid Cars
Car buyers could receive up to $10,000 rebate under budget proposal
Currently, drivers who purchase hybrid or electric cars receive a $2,500 to $7,500 rebate, depending on the size of the car's battery. The new provisions, added to the President's 2013 fiscal budget, also expands the number of cars eligible for the rebate and changes the way it is passed along to consumers.
The changes will "help increase production of advanced vehicles that diversify our fuel use and bring down the cost of producing such vehicles," according to the proposal.
Here's a look at the details of the provision, and the rekindling of the controversy sparked by the rebates.
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