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Obama offers tax credit for EVs

  1. DSD

    15,757 Posts.

    Journo doesn't agree with policy but :
    '5. Expand electric-car tax credits to more worthy vehicles. President Obama wanted a million electric cars by 2015, but, according to the Electric Drive Transportation Association, there were only 174,000 battery-powered and hybrid plug-in vehicles on the nation’s roads in 2013.
    The administration now wants to replace the electric-vehicle credit with credits worth $3.3 billion over 10 years for “advanced technology vehicles.” Passenger vehicles, which would get $2.9 billion of the credits, qualify if they “operate primarily on an alternative to petroleum” and “there are few vehicles in operation in the United States using the same technology as such vehicle.” This raises the possibility of credits for natural-gas vehicles, the closest substitute for the gasoline-powered engine. People could get tax credits of $10,000 per vehicle ($7,500 if the car costs more than $45,000.)
    The problem is that the $3.3 billion could be better spent. Awarding tax credits for particular technologies puts the government in the dangerous role of picking winners and losers. Natural gas is inexpensive and plentiful, and these cars would likely be chosen by consumers without the credit. They are popular in many parts of the world. Natural gas is already used to power fleets of buses and trucks, which can be charged overnight. These funds are a waste of taxpayer dollars because the technology will likely be adopted anyway. And if it isn’t, it probably isn’t worth the investment.'

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