Remove Cleaner Remove Cost Of Remove Tax
article thumbnail

Sen. Baucus draft for energy tax reform focuses on clean production of electricity and fuels; repeals plug-in vehicle credits

Green Car Congress

introduced the latest in a series of discussion drafts to overhaul the US tax code. This new staff discussion draft focuses energy tax policy on stimulating domestic, clean production of electricity and transportation fuels, which account for 68% of energy consumed in the US. Specific proposals include: Clean electricity tax credit.

Tax 281
article thumbnail

Carmax, Carvana, and automotive stakeholders urge U.S. Senate to keep EV tax credits

Plug in America

As we’ve previously explained, cutting the EV tax credits now would be a costly mistake. If the EV tax credits are rolled back: People will lose hundreds of thousands of jobs, and companies will lose billions of dollars in investments. Since January, uncertainty about federal support for clean energy projects has cost $15.5

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

National Academies Report Examines Hidden Cost of Energy Production and Use in US; Estimates $120B in 2005

Green Car Congress

Source: “Hidden Costs of Energy”. When such market failures occur, a case can be made for government interventions—such as regulations, taxes or tradable permits—to address these external costs, the report says. Source: “Hidden Costs of Energy”. Damages are expressed in cents per VMT (2007 USD). Click to enlarge.

2005 246
article thumbnail

Smoothing the road for electric vehicles

Plug in America

The so-called mandate that you will hear about refers to a suite of complementary policies comprised of clean vehicle standards as well as incentives, and infrastructure and manufacturing investments to support the transition to cleaner transportation. There is also a little-known federal tax credit of up to $4,000 for used EVs.

article thumbnail

Congressional Budget Office estimates US federal policies promoting EVs and other fuel-efficient vehicles will cost $7.5B through 2019; little or no impact on gasoline use and GHG in the short term

Green Car Congress

Tax credits and gasoline prices necessary for various electric vehicles to be cost-competitive with conventional vehicles at 2011 vehicle prices. That finding takes into account both the higher purchase price of an electric vehicle and the lower fuel costs over the vehicle’s life. Source: CBO. Click to enlarge. Indirect effects.

article thumbnail

GM begins market positioning for Cruze Diesel in 2013; small displacement diesels to “fill an important niche”

Green Car Congress

Historically, diesel cars have sold strongly in Europe, where the fuel is less expensive than highly taxed gasoline. In the United States, diesel fuel typically costs between 25 and 40 cents more than gasoline, but the difference has been trending downward the past couple of years, according to Schaeffer. About one of every two US.

Diesel 290
article thumbnail

Electric company car tax explained

Drive Electric

The UK government slashed electric company car tax, instantly making EVs much more attractive for businesses and employees. Here we take a look at what company car tax is, what’s changed, and how it compares between different types of cars. What is company car tax? How much is company car tax? Company Car Tax bands.

Tax 95