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.
