Tweet
The US House has passed HR 5351.
This bill takes tax credits from oil companies, to the tune of $18 billion over ten years, and uses it to pay for alternative energy credits including a plug-in hybrid tax credit of $4000 plus $200 per kWh for cars with a battery capacity greater than 5 kWh.
Bottom line; if this bill passes the Senate and gets signed you would bet back $7,200 back for buying a Volt or similar vehicle. Not a bad deal given that the price "premium" for the Volt EREV, Saturn Vue PHEV etc. has been stated to be ~ $5,000.
Passage in the Senate and it getting signed are problematic as oil lobbyists are making "the big push" against it, plus there are concerns that changes in the tax code would increase pump prices for gasoline.
This bill takes tax credits from oil companies, to the tune of $18 billion over ten years, and uses it to pay for alternative energy credits including a plug-in hybrid tax credit of $4000 plus $200 per kWh for cars with a battery capacity greater than 5 kWh.
Bottom line; if this bill passes the Senate and gets signed you would bet back $7,200 back for buying a Volt or similar vehicle. Not a bad deal given that the price "premium" for the Volt EREV, Saturn Vue PHEV etc. has been stated to be ~ $5,000.
Passage in the Senate and it getting signed are problematic as oil lobbyists are making "the big push" against it, plus there are concerns that changes in the tax code would increase pump prices for gasoline.