Is the $7,500 federal tax incentive not enough to consider owning a new green machine? If President Obama has his way, that figure could climb to $10,000.
The Detroit News says the increased incentive for purchasing an EV or PHEV — part of Obama’s FY 2016 budget — is not only meant to make ownership of such vehicles more alluring, but would be applied as an immediate rebate at the time of purchase. The new incentive would also bring other green vehicles into the fold, such as CNG vehicles.
Other proposals in the budget include a three-fold increase in funding for the National Highway Traffic Safety Administration, and a one-time corporate foreign earnings tax to help fund road and other infrastructure projects over the next six years.
The post Federal EV, PHEV Tax Incentive May Increase To $10K appeared first on The Truth About Cars.
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