Plug-in Tax Credit $7,500
U.S. Senate approves plug-in tax credit
Edmunds.comYesterday afternoon, the United States Senate approved a tax credit that provides up to $7,500 in discounts for buyers of plug-in hybrids - a type of vehicle that isn’t even on the market yet. Buried within a complex bill was a provision for buyers of plug-in electric vehicles that gives them a tax credit between $2,500 and $7,500 depending on battery capacity.
This could give General Motors the boost it needs for the upcoming Chevrolet Volt, which the automaker expects to be priced over $30,000. Many industry analysts have claimed that the Volt’s high price point, which is still unlikely to garner profits in for GM for the first generation model, will make it a tough sell. The Volt would qualify for the maximum $7,500 incentive.
The measure said that the tax credits would be phased out after the 250,000th plug-in electric vehicle had been sold. It provides a significantly higher credit than the provision buried within a House bill passed just a week ago.
Nitro Year: 2007 (1 of 91,815 sold in 07)
Nitro Model: R/T 4X4 Stone White
CAT-BACK Exhaust, CAI, Projector Head Lamps
Fully-Equipped w/all factory options