Electric-Vehicle Tax Credits Get a Bipartisan Boost in Senate
Often crony capitalism sprouts out of well intended policies. Unfortunately however these policies can quickly morph into being about crony cashflow primarily.
The current $7,500 per-vehicle incentive for consumers, credited with helping establish the nascent market for electric cars, phases down once a manufacturer sells 200,000 of the vehicles.
The legislation by Michigan Democrat Debbie Stabenow would grant automakers a $7,000 tax credit for an additional 400,000 vehicles after they reach the 200,000 vehicle cap, according to statement from Stabenow’s office.