Back in February, President Obama proposed changing the credit for plug-in vehicles over to a point-of-purchase rebate, a move that would likely speed up the $7,500 payment. Under the proposal, dealers would reduce the sticker price of eligible plug-in vehicles and apply for reimbursement from the government.
Currently, buyers of eligible plug-in vehicles receive a $7,500 federal tax credit upon filing their income taxes. In some situations, that $7,500 arrives up to a year after one has plunked down cash to buy a battery-powered auto. However, U.S. Senator Debbie Stabenow (D-MI), looks to put an end to the delay with a reintroduced bill that, if passed, would provide a $7,500 point-of-purchase rebate to plug-in vehicles buyers.