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The new US EV tax credit - how it works

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  • The new US EV tax credit - how it works

    They included it in the 'bailout bill' and it's called the Transportation and Domestic Fuel Security Provision.

    The base tax credit is $2,500

    An additional credit of $417 is given for each additional kWh of battery capacity over 4 kWh, up to a maximum of $7,500.

    For the Chevy Volt this works out to $7,500.

    Only those purchasing the first 250,000 plug-in cars sold in the US will get the credit and it will it be phased out to 50% for the following two quarters, and 25% for the two quarters after that before ending.

    The total cost of the credits will be $758 million.

    Only our Congress could come up with a screwed up implementation like this
    Dr. Mordrid
    ----------------------------
    An elephant is a mouse built to government specifications.

    I carry a gun because I can't throw a rock 1,250 fps
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