Mexican Media Brands
Federal Lawmakers Propose EV Credit Extension
A bipartisan bill introduced today in the U.S. Senate seeks to extend federal tax credits for buyers of electric cars.
#hybrid
Share
A bipartisan bill introduced today in the U.S. Senate seeks to extend federal tax credits for buyers of electric cars.
The current program phases out $7,500 credits over 15 months when a given manufacturer’s cumulative EV sales reach 200,000 units. The proposed Driving American Forward Act would double the cutoff point to 400,000 vehicles.
So far only Tesla and General Motors have reached the 200,000-unit threshold. EV makers and environmental groups have been pushing to extend the incentives to help strengthen the fledging market for electrics.
The bill is co-sponsored by Democrat Senators Debbie Stabenow and Gary Peters from Michigan, Republican Senators Lamar Alexander from Tennessee and Susan Collins from Maine, and Republican Representative Dan Kildee from Michigan.
The sponsors estimate the measure, which also would provide tax credits to buyers of fuel cell vehicles through 2028, will cost more than $11 billion. The White House has proposed saving some $2.5 billion by eliminating the current program immediately.
RELATED CONTENT
-
Aluminum Sheet for EV Battery Enclosure
As the number of electric vehicles (EVs) is about to increase almost exponentially, aluminum supplier Novelis is preparing to provide customers with protective solutions
-
Startup Readies Solar-Powered EV
Germany’s Sono Motors GmbH says it has received 5,000 orders for its upcoming Sion electric car, which can be partially recharged by it attached solar panels.
-
On Military Trucks, Euro Car Sales, Mazda Drops and More
Did you know Mack is making military dump trucks from commercial vehicles or that Ford tied with Daimler in Euro vehicle sales or the Mazda6 is soon to be a thing of the past or Alexa can be more readily integrated or about Honda’s new EV strategy? All that and more are found here.