I just need to hold off buying a little (or more) longer. This is great news and I hope it passes.
Plug-In Hybrids Could Get $10,000 Tax Credit - KickingTires
Last year, legislators passed new rules about plug-in hybrids and their tax credits. Vehicles like the upcoming Chevy Volt would qualify for the maximum credit of $7,500. However, as part of the stimulus bill being considered in Washington, that amount would jump to $10,000. That means if the Volt cost $40,000, the price after rebate would be $30,000, putting it pretty close to the price of a well-equipped Toyota Prius.
The cap for this credit would also be raised from 250,000 vehicles sold to 500,000. Meaning if you bought the 500,001st plug-in hybrid, you would not get a credit.
The other change in the legislation is that larger plug-in electric vehicles meant for commercial uses, like delivery trucks, would get larger credits of $12,500 and $15,000, depending on their size. That should be a good incentive for companies to buy new plug-in vehicles, if they existed. Currently, there are no such plug-in commercial vehicles planned.
Senate Finance Committee Markup Proposes Doubling PHEVs Eligible for Tax Credits to 500,000 Units (Green Car Congress
Plug-In Hybrids Could Get $10,000 Tax Credit
Discussion in 'Prius, Hybrid, EV and Alt-Fuel News' started by Unlimited_MPG, Jan 28, 2009.
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Discussion in 'Prius, Hybrid, EV and Alt-Fuel News' started by Unlimited_MPG, Jan 28, 2009.