EV tax credit could become a cash rebate in 2012
Posted By RichC on May 24, 2011
How about a quicker way for car buyers willing to invest in the latest green automotive technology to get their tax credit? If Secretary of Transportation Ray LaHood gets his way those purchasing an EV could apply it to the price of the vehicle. 
He’s suggesting that instead of a tax credit when filing income taxes that buyers of plug-in vehicles could get the money in the form of a rebate immediately when they purchase a car like the Chevrolet Volt, Amp Equinox or Nissan Leaf. We’re talking some serious change … like $7500 when purchasing one of these plug-in green machines. Unfortunately the price tag for the latest technology is pretty high too … a tiny Nissan Leaf is well over $30,000 and a Chevrolet Volt adds at least another $10,000.
On the political side, our divided government might not be in all that much of a hurry to incentify one particular technology over another … picking winners and losers as they often do. I would not be all that confident that Mr. LaHood can twist enough arms and convince members of congress that our government administers programs all that efficiently … remember the Wall Street bank trillions, GM bailout, Stimulus One, Two and Cash for Clunkers? My personal take on trying the Cash for Appliances failed miserably … and suspect only the bureaucrats running the the program really ended up happy. Personally I’d rather Uncle Sam stay out of “business” decisions all together and would have no problem restricting big lobby money, be they corporate interests or labor unions … but that’s just me and a point for a different post.
Comments