Obama calls for increased alternative-energy vehicle tax credits

Speaking at a Daimler Trucks North America factory in Mount Holly, North Carolina, President Obama laid out a proposal to increase federal tax credits for alternative-energy vehicles and introduce new credits for clean commercial trucks. He also called for a $1 billion program to create a “clean-vehicle infrastructure.”. The program would ensure that vehicles used for commercial purposes and perhaps even businesses like some cleaning companies in NYC and other cities across the U.S. would persuade owners to upgrade to these newer energy efficient vehicles and trucks by a tax credit.

Tax credits for electric, natural gas and hydrogen-powered vehicles would be increased from their current level of $7500 to $10,000 under the changes Obama outlined. They would also be applied at the time of purchase, whereas consumers currently must wait to claim the credit when they file their taxes.

Buyers of alternative-energy commercial trucks would also receive a tax credit for half the additional cost over a conventional truck. Electric and natural gas powered commercial trucks – including alternative-fuel semi-tractor trailers – would qualify for this additional credit.

“We need to invest in the technology that will help us use less oil in our cars and our trucks, and our buildings, and our factories,” Obama said. “That’s the only solution to the challenge. Because as we start using less, that lowers the demand, prices come down. Pretty straightforward.”

Obama also proposed a $1 billion program to help as many as 15 U.S. cities to pay for investments in clean-vehicle infrastructure, including charging stations.

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    One Comment to "Obama calls for increased alternative-energy vehicle tax credits"
    1. congress keeps killing the pipe line that would go from Canada to Texas, I know that Obama wasn’t for it to start with but now its congresses fault with that one! Gas is far too expensive for a country that has no public transportation (or at least in my area!)

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