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.
Going on now in Washington, D.C.: testimony before the Full Senate Committee on Energy and Natural Resources regarding plug-in vehicles. Specifically, the hearing is about S. 3495, the Promoting Electric Vehicles Act of 2010, and is intended to "receive testimony on policies to reduce oil consumption through the promotion of accelerated deployment of electric-drive vehicles." Hey, that sounds like it could be important.
The U.S. Senate will probably put more money where its 100 mouths are on promoting electric vehicles sometime soon. According to Senator Debbie Stabenow (D-MI), the legislators are likely to reauthorize and expand the Advanced Vehicle Technology Act, which the House passed an expansion to last fall. The expansion will probably add about $200 million to the bill each year for the next five years, bringing the overall total to $2.85 billion.