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.
Last August, Stabenow pushed for the Charging America Forward Act, a bill that aimed to expand tax incentives for alternative-energy vehicles. Unfortunately, the act was never passed into law.
Stabenow's recent pitch to modify the plug-in vehicle rebate program comes within weeks of two other Michigan congressmen proposing an expansion of the alternative-energy vehicle federal tax credit. In late January, U.S. Representative Sander Levin (D-MI), and his brother, U.S. Senator Carl Levin (D-MI), proposed legislation calling for an increase from 200,000 to 500,000 vehicles in the per-manufacturer cap on the $7,500 tax credit.
Stabenow's bill, along with the Levins' proposals, must be voted on and approved before any modifications will be made to any existing alt-energy vehicle incentive programs. Hat tip to Dan!
[Source: Automotive News – sub. req. | Image: Wikimedia Commons – C.C. License 2.0]
Last August, Stabenow pushed for the Charging America Forward Act, a bill that aimed to expand tax incentives for alternative-energy vehicles. Unfortunately, the act was never passed into law.
Stabenow's recent pitch to modify the plug-in vehicle rebate program comes within weeks of two other Michigan congressmen proposing an expansion of the alternative-energy vehicle federal tax credit. In late January, U.S. Representative Sander Levin (D-MI), and his brother, U.S. Senator Carl Levin (D-MI), proposed legislation calling for an increase from 200,000 to 500,000 vehicles in the per-manufacturer cap on the $7,500 tax credit.
Stabenow's bill, along with the Levins' proposals, must be voted on and approved before any modifications will be made to any existing alt-energy vehicle incentive programs. Hat tip to Dan!
[Source: Automotive News – sub. req. | Image: Wikimedia Commons – C.C. License 2.0]
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