Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Senate Passes $7,500 Tax Credit To Boost Volt and Other EVs

Posted by: David Kiley on September 24, 2008

The U.S. Senate passed a wide-ranging tax bill that includes everything from extending tax credits for wind energy to a $7,500 credit for consumers who buy extended range electric vehicles like the Chevy Volt.

The credit for electric vehicles would start at $2,500 and go up to $7,500. The Volt, to be launched in 2010, would qualify for the max. Chrysler also plans to launch an extended range electric vehicle (sometimes called a plug-in) in 2010. Toyota also plans an extended range electric car.

The Senate vote was an overwhelming 93-2. The House of Representatives must still vote. The White House dropped objections to some provisions unrelated to the plug-in hybrid tax credit.

Reader Comments


September 27, 2008 8:48 AM

It would be nice to know how McCain, Obama, and Biden would have voted had they been there. Even more troubling is why Carper(D-Deleware) and Conrad (D-ND) voted against it.

Albert J. Pryor

September 29, 2008 10:58 AM

Plug-in hybrids are a great way to lower emissions, especially in our air quality-challenged communities; however, this tax credit will probably be readily utilized by homeowners exclusively because those who rent may face reluctance from landlords who resist upgrading their apartment buildings' electrical systems so as to bare the increased current load these plug-in vehicles will probably demand. To offset this possibility, extending a tax credit to apartment owners for upgrading their properties would ameliorate tensions between owners and tenants due to rent increases these upgrades would likely cause. A call or email to your congressman to verify if such provision in the proposed law exists, and if it does not, why not, seems like a good idea to me, I'm a tenant.

Post a comment



Want the straight scoop on the auto industry? Our man in Detroit David Welch, brings keen observations and provocative perspective on the auto business.

BW Mall - Sponsored Links

Buy a link now!