DC 2011: Rep. Levin announces bill to raise plug-in vehicle tax credit cap to 500,000

This'd be a sweet deal for automakers. At a kick-off event for the DC Auto Show today, Representative Sander Levin (D-Royal Oak, MI, pictured) said he will introduce a bill to increase the limit on how many plug-in vehicles an automaker can sell before the $7,500 (max) tax credit expires from 200,000 to 500,000. Sander's younger brother, Sen. Carl Levin (D-MI) will introduce the bill in the Senate.
Sander is the ranking member of the House Ways and Means Committee. Carl talked last fall about the possibility of eliminating CAFE standards all together in favor of a "longer-term approach that gets us to a better result."

Meanwhile, Vice President Joe Biden expanded on President Obama's State of the Union plug-in vehicles plans during a visit to battery maker Ener1 today. As we already noted, the Obama Adminisration wants to changes the tax deduction to an on-the-spot rebate. Obama also proposed increasing federal subsidies for "vehicle technologies" to almost $590 million, an increase of about 90 percent

[Source: Detroit News]

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