Forums
RSS
Dealers
Volt Wins a Round in Congress: $5,000 So Far
Email this page to your friend:
As Nancy Pelosi will tell you, House Resolution 6899, the "offshore drilling bill," is one hotly contested piece of legislation. Bet you didn't know it also contains a plug-in hybrid tax credit, one that Toyota rather vocally opposed yesterday. Further, the bill mandates that all gas stations offer an "alternative fuel pump" by 2018, and goes on to explain that means natural gas, E85 or higher, biodiesel, renewable diesel, or hydrogen. The addendum to this addendum throws a nice $50,000 tax credit to stations that choose to go with an E85 pump. Somehow, we doubt biodiesel pumps are going to start springing up across the country.
Kicking Tires, by way of Autoblog, explains that the proposed credit would apply to plug-in hybrid vehicles with batteries of at least 5 kWh. Starting at $3,000, the credit increases in increments of $200 for each kilowatt hour over five and maxes out at $5,000. Being that the 2011 Chevy Volt is currently the only plug-in hybrid confirmed for sale, GM stands to gain most from this little post-script to HB 6899 to the tune of a $5,000 credit. No wonder Toyota is complaining that the wording of the bill reserves the best of the credits for only the Volt.
The bill passed the House, but it faces an uncertain future in the Senate, where an alternate version is in the works. The Senate version would give drilling even more leeway than the House's expansion beyond a 50-mile coastal buffer. It might also raise the credits for alternative vehicles; GM's Bob Lutz told TheCarConnection.com yesterday that his company was looking for higher incentives for the Volt to be feasible--$7,500 in tax credits--and GM's good connections in Washington are likely hard at work on a back channel.--Colin Mathews
Kicking Tires, by way of Autoblog, explains that the proposed credit would apply to plug-in hybrid vehicles with batteries of at least 5 kWh. Starting at $3,000, the credit increases in increments of $200 for each kilowatt hour over five and maxes out at $5,000. Being that the 2011 Chevy Volt is currently the only plug-in hybrid confirmed for sale, GM stands to gain most from this little post-script to HB 6899 to the tune of a $5,000 credit. No wonder Toyota is complaining that the wording of the bill reserves the best of the credits for only the Volt.
The bill passed the House, but it faces an uncertain future in the Senate, where an alternate version is in the works. The Senate version would give drilling even more leeway than the House's expansion beyond a 50-mile coastal buffer. It might also raise the credits for alternative vehicles; GM's Bob Lutz told TheCarConnection.com yesterday that his company was looking for higher incentives for the Volt to be feasible--$7,500 in tax credits--and GM's good connections in Washington are likely hard at work on a back channel.--Colin Mathews
Responses (3 total)
By Glenn | Posted: Sep 18th 2008, 06:17:58 PM
Toyota has said that they will start up a plug-in hybrid Prius plant in the U.S., so whether they are technically American or not, they are employing Americans. Best not to upset them too much, although the Japanese government has been known to go out of its way to favor Japanese businesses.
By Ed | Posted: Sep 18th 2008, 12:50:28 PM
That is PATHETIC.
These MORONS in Detroit have been losing HOME GAMES not only uto the Japanese, but, even more embarassingly, in the LUXURY Car market, to the GERMANS! That market was 90% US cars, now it is 83% IMPORTS!
and now WE the Taxpayers wilol bail them out too?
DISGUSTING.
By Ricart Auto | Posted: Sep 18th 2008, 04:39:30 AM
Is there something wrong with the US government giving a US company the best tax breaks? I don't see a problem with that. I'd like to see the higher version of the credit go through as well, so I'll be watching to see how this plays out.
Ricart Auto
Post a comment: