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GM fights GOP to retain electric car tax credit

GM fights GOP to retain electric car tax credit

https://www.gminsidenews.com/forums/f38/gm-fights-gop-retain-electric-car-tax-credit-291095/

GM fights GOP to retain electric car tax credit
GM faces opposition from Trump and other Republicans who consider the credit a waste
https://www.freep.com/

Quote:

Preserving the $7,500 tax incentive for buyers is crucial for GM as the company pivots from internal combustion engines in favor of building cars powered by batteries or hydrogen fuel cells. Yet the layoffs and plant closings could imperil GM’s push to keep the incentive. It helps make plug-ins such as the $36,000 Chevy Bolt more affordable at a time when competition from other electric vehicle makers is heating up.


Quote:

As evidence of the credit’s importance to GM’s future, the automaker has expanded its lobbying footprint in Washington and even joined forces with two rivals, Tesla and Nissan, to call for 200,000-vehicle limit to be scrapped.

Standing in the way of that goal is Sen. John Barrasso, R-Wyo., the chairman of the Senate Environment and Public Works Committee. Barrasso introduced legislation in October to abolish the tax credit, a move he said would save about $20 billion over the next 10 years. He has argued the market for electric vehicles is already established and "no longer needs the crutch of government assistance."

"The idea of the subsidies had to do with trying to make sure that electric vehicles would be a viable technology," Barrasso said. "Well, that’s clearly there."


Car News

via GM Inside News Forum https://www.gminsidenews.com/forums/

December 11, 2018 at 06:36AM

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