President Obama Proposes $10,000 Electric Vehicle Incentive
The Obama Administration wants to boost government incentives on electrified vehicles from the current $7,500 to $10,000. The increase is a provision in Obama's proposed $3.8 trillion budget for the fiscal year starting Oct. 1.
Obama's idea is to support a critical emerging clean technology and support blue-collar manufacturing of electric cars in the United States. However, critics were quick to point out that the subsidy would cost taxpayers $100 million each year if it is approved by Congress, based on just 10,000 plug-in autos sold each year.
The proposed hike in the per-vehicle incentive is one method the Obama Administration will use to hit its aspirational goal of 1 million advanced-technology vehicles on US roads by the end of 2015. There's no set timeframe on the possible passage of President Obama's proposed budget, which includes the boosted incentives. The Wall Street Journal and others claim that Obama's budget has little chance of passage. Regardless, the proposal draws a line in the sand declaring that EV tax credits (even at the current $7,500 level) will be defended against Republican attacks.
New to EVs? Start here
What Is An Electric Car?
Before we get going, let's establish basic definitions.
A Quick Guide to Plug-in Hybrids
Some plug-in cars have back-up engines to extend driving range.
Electric Cars Pros and Cons
EVs are a great solution for most people. But not everybody.
Seven Things To Know About Buying a Plug-In Car
A few simple tips before you visit the dealership.
Federal and Local Incentives for Plug-in Hybrids and Electric Cars
Take advantage of credits and rebates to reduce EV costs.
Eight Factors Determining Total Cost of Ownership of an Electric Car
EVs get bad rap as expensive. Until you look at TCO.
Quick Guide to Buying Your First Home EV Charger
You'll want a home charger. Here's how to buy the right one.
Electric Car Utility Rate Plans: Top Five Rules
With the right utility plan, electric fuel can be dirt cheap.
The Ultimate Guide to Electric Car Charging Networks
If you plan to charge in public, you'll want to sign up for charging network membership (or two).
Eight Rules of Electric Vehicle Charging Etiquette
Thou shalt charge only when necessary. And other rules to live by.