Federal EV, PHEV Tax Incentive May Increase To $10K

Cameron Aubernon
by Cameron Aubernon
federal ev phev tax incentive may increase to 10k

Is the $7,500 federal tax incentive not enough to consider owning a new green machine? If President Obama has his way, that figure could climb to $10,000.

The Detroit News says the increased incentive for purchasing an EV or PHEV — part of Obama’s FY 2016 budget — is not only meant to make ownership of such vehicles more alluring, but would be applied as an immediate rebate at the time of purchase. The new incentive would also bring other green vehicles into the fold, such as CNG vehicles.

Other proposals in the budget include a three-fold increase in funding for the National Highway Traffic Safety Administration, and a one-time corporate foreign earnings tax to help fund road and other infrastructure projects over the next six years.

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  • Voyager Voyager on Feb 05, 2015

    By the way, anything that could lower the West's dependency on import oil from such volatile regions as the Arab states I consider a blessing. Alternative energy sources can help tremendously in this respect. Having your own shale oil may be considered a strategic reserve for the future then.

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    • Highdesertcat Highdesertcat on Feb 05, 2015

      chuckrs, I wouldn't mind the extra cost IF we in Southcentral NM would benefit from it. But we don't. The increase in the cost of electricity is less than what it costs me to run my three AC generators in fuel every Sunday from noon to 6pm, but with the flaky electrical service, this is what many of us are reduced to; our own auxiliary power generation. We factually have acres and acres of solar in the desert and numerous windfarms, yet all of that electricity is 'exported'. In fact, a brand new power transmision line called SunZia is being built right now, not to benefit us, but to benefit AZ, TX, CO, and Western OK.

  • Big Al from Oz Big Al from Oz on Feb 05, 2015

    The US and US Government wants cheap energy. Now it's competing against itself because of cheap energy? Who's paying for this pathetic logic. Ah......the consumer.

  • Chocolatedeath Chocolatedeath on Feb 05, 2015

    Well if someone would offer me a six cylinder diesel plug in extended range in a CUV I would take it.Make it as light as possible and about the size drivers characteristics of my CX9 with 35mpg overall. Yes I would take it.

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    • Dal20402 Dal20402 on Feb 06, 2015

      If you want anything near the driving characteristics of your CX-9 and anything near reasonable cost, the plug-in will have a small and light (which means gas) four-cylinder range extender. The plus side is you'd get a lot more than 35 mpg overall.

  • Jerome10 Jerome10 on Feb 06, 2015

    10k?? Why not just make the car free? It's for a good cause right. We have the money. Getting tired of this stuff. If this tech were so great then it should sell on its own. It's not so it doesn't. Other question : why so much silly focus on electric cars anyway? Wouldn't Natura gas vehicles make much more sense in the USA? Easy conversion from existing gas engines to NG, no environmentally terrible metals and chemicals, clean clean burning fuel instead of coal or nuclear power, fast fueling with existing infrastructure, and the USA has a ton of it. Just seems to me it would make far more sense and make a much bigger impact more quickly than pushing electric cars. My guess? Natural gas isn't "Sexy" like electric technology and so it's paid no attention. Am I wrong?