Proposed 30% US tax credit for e-bike purchases gains support in Congress

Electrek

Americans are getting closer to a federal tax credit for electric bicycles, a proposal that could be similar in concept to the electric car and motorcycle tax incentives already on the books.

Senate tax plan leaves electric-car purchase credit in place

Green Car Reports

income-tax credit for purchase of an electric car took a new turn on Thursday. HR1, the draft Tax Cut and Jobs Act introduced in the House of Representatives, would end the credit as of December 31. Senate version of the tax-reform bill introduced late Thursday, however, retains the credit. Politics senate tax credit taxes plug-in carsThe battle over early termination of the U.S.

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How did that EV purchase affect your tax bill? Twitter poll results

Green Car Reports

The growth came not only as Tesla's production blew through its allotment of federal tax credits, but also as changes based on the 2017 tax law raised many taxpayers' tax bills, come last month. Polls EV tax creditElectric-car sales skyrocketed in the U.S. last year as Tesla Model 3 production ramped up.

2019 110

Climate Mayors EV Purchasing Collaborative: >140 cities and counties have committed to purchasing >2,100 EVs by 2020

Green Car Congress

At the second-annual Climate Mayors Summit in Honolulu, Hawaii, 127 cities and 15 counties from across 38 states joined the Climate Mayors Electric Vehicle Purchasing Collaborative, and committed to purchasing more than 2,100 electric vehicles by the end of 2020.

2019 246

Virginia proposes state-tax rebate up to $3,500 for electric-car purchase

Green Car Reports

Reid [D-32nd] has proposed a bill, expected to hit the House floor Wednesday, that would see buyers of electric vehicles receive a state-tax rebate of up to $3,500. Plug-In Hybrids incentives tax credit plug-in cars Battery Electric Vehicle (BEV) state laws VirginiaVirginia is for lovers—and it may soon be for lovers of electric cars and plug-in hybrids, too. Virginia House Delegate David A.

DOE: Average annual gasoline taxes paid per vehicle, by state, 2019

Green Car Congress

The Federal tax on gasoline is 18.4 cents per gallon, and each state has a gasoline tax, ranging from 8.95 Since taxes are charged on a per-gallon basis, someone with a more efficient vehicle will pay less in taxes over the course of a year.

2019 295

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?

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Biden plan would broaden EV tax credit, include Cash for Clunkers reboot

Green Car Reports

Joe Biden announced a broad environmental plan Tuesday that includes provisions to broaden the federal electric-car tax credit and revive the "Cash for Clunkers" program.

Volvo XC40 Recharge EV to start at $53,990 in US before qualifying tax incentives

Green Car Congress

The purchase of an XC40 Recharge may qualify for a federal tax credit of up to $7,500. The Volvo XC40 Recharge, the company’s first fully electric vehicle, will carry an MSRP of $53,990 when it arrives in US showrooms later this year.

2020 254

Electric-car tax credit retained in Congressional tax reform bill: report

Green Car Reports

income-tax credit for purchase of a plug-in electric vehicle will not be killed after all. Politics Plug-In Hybrids congress incentives tax credit plug-in cars Battery Electric Vehicle (BEV We'll likely never know whether it was the influence of auto lobbyists, pressure from the actual public, or a letter signed by two dozen mayors. But however the sausage was made, it appears that the U.S.

CMU study finds taxes on emissions would result in more rapid electrification by ridesharing companies

Green Car Congress

When life cycle air pollution and greenhouse gas emission externalities are internalized via a Pigovian tax, fleet electrification increases and externalities decrease, suggesting a role for policy. Vehicle purchases (x-axis) and average utilization (y-axis) by powertrain type for cost-minimizing fleets when excluding (left) and including (right) a Pigovian tax on air emissions.

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Analysis finds annual running cost of EVs less than ICE; but with purchase price factored in, it flips

Green Car Congress

However, these annual costs don’t take into account the purchase cost of the vehicle itself and are purely the ‘running’ costs annually. When the purchase cost of each type of vehicle is factored in, average gasoline vehicles are $1,454 per year cheaper to run. EVs cost an average of $9,406 per year (including the purchase price) to run compared to $7,952 annually for gas vehicles (including the purchase price).

2020 184

China Decides Electric Cars Are Important Enough To Waive Tax On Their Purchase

Green Car Reports

After a slow start, electric cars could take another step forward in China as the country decides to waive its 10 percent purchase tax on the vehicles. It''s the latest effort by the country''s policymakers to address China''s pollution and energy independence issues. Electric car sales have been abysmal in China while those in the U.S, Europe and

2014 129

Budget deal restores tax credits for EV charging stations, electric motorcycles, fuel-cell cars

Green Car Reports

Fears that Congress would kill the federal tax credit for purchase of a plug-in electric car were laid to rest in December when that incentive survived the $1.5 billion tax-cut bill. Now Congress has added back a handful of other tax credits related to electric cars and greener transportation in the $400 billion budget bill it passed in the wee. incentives tax credit plug-in cars hydrogen fuel cell electric motorcycles

New bipartisan bill in US Congress to expand EV and hydrogen fuel cell tax credits

Green Car Congress

US Senators Debbie Stabenow (D-MI), Lamar Alexander (R-TN), Gary Peters (D-MI), and Susan Collins (R-ME) along with Congressman Dan Kildee (MI-05) introduced the Driving America Forward Act, bipartisan legislation to expand the electric vehicle and hydrogen fuel cell tax credits. Under current law, consumers may receive a tax credit of up to $7,500 if they purchase an eligible electric vehicle. The bill maintains the $7,500 tax credit for the first 200,000 units sold.

Will Georgia Kill Its $5,000 Tax Credit For Electric-Car Purchases?

Green Car Reports

Legislation proposed by Representative Chuck Martin last Thursday night would end the $5,000 electric-vehicle tax credit by April 1, the Atlanta Business Chronicle reports. The credit--among the highest offered by any state--applies to new electric-car purchases or For Georgia electric-car owners, things aren''t looking too peachy this week.

Fixing the Federal EV Tax Credit Flaws: Redesigning the Vehicle Credit Formula

EV Adoption

The Qualified Plug-In Electric Drive Motor Vehicles (IRC 30D) tax credit – commonly referred to as the “Federal EV tax credit” has a number of flaws, but one of the biggest is the poorly-designed formula that determines the amount of the tax credit available for each BEV and PHEV sold in the US.

Next 10-UC Berkeley study suggests additional tax revenue or income-based rate structure to make electricity more affordable for Californians

Green Car Congress

We’re proposing solutions that would recover system costs through sales or income taxes, or an income-based fixed charge, which would pay for long-term capital costs while ensuring all those who use the system—and specifically, wealthier households—contribute equitably.

Could improving electric-car tax credit be possible even with today's politics?

Green Car Reports

Rather to the surprise of electric-car advocates, the massive tax bill passed by the U.S. Congress in December did not eliminate the federal tax credit for purchase of a plug-in electric vehicle. That credit lets buyers take a credit of $2,500 to $7,500 on their income-tax filing in the year of purchase. Politics Plug-In Hybrids incentives tax credit plug-in cars Battery Electric Vehicle (BEV

Proposed Federal EV Tax Credit Reform: Will It Move the Sales Needle?

EV Adoption

For electric vehicle observers, the legislation contains two key provisions: The first would extend the tax credit to automakers who already reached the current phaseout level of 200,000 EVs sold with another 400,000 vehicles, but with a reduction to $7,000 from the current maximum $7,500 credit.

U.S. Senate Panel looks to boost EV Tax Credit to $12,500: What we know so far

Teslarati

The United States Senate Finance Committee is looking to boost the possible Electric Vehicle Tax Credit to $12,500 for manufacturers that have assembled union workers within the U.S. will still qualify for tax credits but will not receive the full amount.

In an ideal world, this is how electric-car tax credits should work

Green Car Reports

The tax reform bill likely to be voted on by the U.S. Senate and House of Representatives retained a number of provisions originally slated to be cut from the tax code. Among them was the federal income-tax credit for purchase of a plug-in electric vehicle. New York Politics sales rebates Plug-In Hybrids California congress incentives tax credit plug-in cars Battery Electric Vehicle (BEV

What happens to electric-car sales when tax credits sunset? Each maker differs

Green Car Reports

market without the $7,500 federal tax credit for their purchases of plug-in vehicles. While the tax credit ended up surviving the massive tax-cut bill passed in December, some automakers are still about to face the end of the incentive. General Motors sales Plug-In Hybrids GM incentives tax credit New car sales plug-in cars Battery Electric Vehicle (BEV Toward the end of last year, electric-car shoppers began to think about a U.S.

Georgia to take second try at electric-car tax credit after killing first one

Green Car Reports

Several years ago, Georgia offered a generous state-tax credit for purchase of a zero-emission vehicle, and its sales of electric cars boomed. When state politics interceded to kill that credit in 2015—and add a new tax specifically on those same vehicles—the state became a case study on what happens when such incentives are suddenly. Politics incentives tax credit Georgia plug-in cars Battery Electric Vehicle (BEV) state laws

Tesla gets official nod from China with tax exemption

Green Car Reports

As part of a declaration posted Friday by the country’s Ministry of Industry and Information Technology, Tesla is receiving an exemption from a 10-percent purchase tax. The California-based electric car maker Tesla has received a boost from the nation with the world’s largest auto market—China.

2019 115

MIT study suggests carbon tax could help reduce US deficit, lower other taxes, reduce emissions

Green Car Congress

A new report from MIT’s Joint Program on the Science and Policy of Global Change suggests that a tax on carbon emissions could help raise the money needed to reduce the US deficit, while improving the economy, lowering other taxes and reducing emissions. In the report— Carbon Tax Revenue and the Budget Deficit: A Win-Win-Win Solution? They found that the tax would raise $1.5 The study shows that this actually depends on how the revenue from the tax is used.

2012 257

Tesla stock outlook soars to $1,300 per share, driven by Biden’s $10k EV tax credit

Teslarati

Wedbush sources indicate that the previously thought $7,000 credit could be increased to $10,000, further incentivizing car buyers to purchase electric powertrains instead of gas-powered ones.

Insult To Injury? GA Kills Electric-Car Incentive, Adds Last-Minute Luxury-Car Tax Break

Green Car Reports

It hasn''t been a particularly good year so far for electric-car purchase incentives. As feared by advocates, last week Georgia passed a highway-funding bill that killed its $5,000 income-tax credit for purchase of a battery-electric vehicles. Green Georgia Manufacturing Politics incentives plug-in cars state laws tax credit

2015 130

California Governor signs bill exempting zero-emissions transit buses from state sales tax until 2024

Green Car Congress

California Governor Gavin Newsom has signed AB 784 into law, thereby exempting zero-emissions transit buses from state sales tax until 2024. The California Department of Tax and Fee Administration will incur annual administrative costs of up to $250,000. analysis of the bill by the Assembly noted that: As a general rule, tax expenditures are typically implemented so as to encourage new behavior deemed necessary for the public good.

2019 183

New propaganda video on electric-car tax credits: time to debunk!

Green Car Reports

federal income-tax credit for purchase of an electric car has seen its share of attacks over the years. Videos tax credit plug-in cars mythsThe U.S. Now a new video seeks to twist the facts to paint those subsidies in a bad light. While facts don't lie, it's easy to create a new narrative by taking carefully chosen facts out of context and presenting only a small part of a broader.

VW: $50 Million In Tax Credits, Wanted Electric-Car Credits For Diesels Too

Green Car Reports

Buyers of various Volkswagen TDI diesel vehicles took about $50 million in Federal income-tax credits in 2009 for the purchase of their supposedly green car. emissions EPA TDI incentives CAFE tax credit regulation Corporate Average Fuel EconomyWith Michael Horn, CEO of VW Group of America, testifying to Congress today, those credits--and whether the Federal government should be reimbursed for them, and by whom--are likely to.

IL Suspends Clean-Car Rebates; GA Tax Credit In Trouble Too; Texas Next?

Green Car Reports

State tax credits and purchase rebates have proven effective in kickstarting the early market for plug-in electric cars and other green vehicles. Green Georgia Illinois Texas incentives plug-in cars rebates state laws tax credit But they don''t last forever, as buyers in Illinois and Georgia are learning; the Ilinois program has been suspended, and Georgia seems likely to kill off its program as well. Then there''s Texas, where a.

California to test electric-car 'point of purchase' rebate for electric cars

Green Car Reports

That's why purchase rebates are widely preferred by electric-car advocates to tax credits, which may take up to 15 months to be usable, depending on the timing of the purchase and tax filing. It's clear that incentives to buy specific cars work best when they can be applied directly at the time of sale.

2017 113

How to Take Advantage of EV Charging Infrastructure Tax Credits

EV Connect

Both state and federal governments are encouraging businesses and individuals to start making the switch to EVs, and they are putting up the funds to make it happen — in the form of generous, aggressive EV charging infrastructure tax credits.

How to receive tax credits for electric vehicles and charging equipment

Plug in America

If you purchased a new electric vehicle (EV) or charging equipment in 2020, you may be eligible to receive valuable tax credits. If you have questions regarding these tax credits, we recommend that you consult your tax advisor. The federal EV tax credit provides a credit of up to $7,500, depending on the size of the vehicle’s battery. For more information and to claim this credit, visit Plug-In Electric Drive Vehicle Credit (IRC 30D) on the IRS website.

Government of Spain approves subsidies for purchase of electric vehicles

Green Car Congress

The Government of Spain last Friday approved incentives to stimulate the introduction of the electric vehicle, including direct subsidies for the purchase of such vehicles with a budget of €72 million (US$103 million) for 2011. EVs will be subsidized for up to 25% of the purchase price, before tax, to a maximum of €6,000 per vehicle (US$8,600).

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Tesla sells 200,000th car, starting phaseout of federal tax credits

Green Car Reports

Tesla's vehicle purchase incentives web page on Thursday morning reported that the wind-down of incentives for buyers of its cars has begun. Following the change, Tesla buyers will only be eligible to receive the full $7,500 federal tax credit until Dec. The change was first noted and reported by Jalopnik. After that, the credits will halve

UPS plans to purchase 1,000 propane-fueled package delivery trucks, install fueling stations; $70M investment

Green Car Congress

UPS plans to purchase 1,000 propane package delivery trucks and install an initial 50 fueling stations at UPS locations. States that attract this type of investment with tax incentives and grants will factor into the UPS deployment strategy. The investment in propane vehicles and infrastructure is approximately $70 million. The propane fleet will replace gasoline- and diesel-fueled vehicles used largely in rural areas in Louisiana and Oklahoma with other states pending.

2014 241

Take Advantage of New York State EV Tax Credits and Save

EV Connect

Once your company takes advantage of federal EV tax credits, EV Connect can help you find available New York State EV tax credits that will help defray costs further and maximize your investment for years to come.

AMP electric SUVs qualify for $7,500 federal tax credit

Green Car Congress

Some states offer additional sales tax exemptions and zero emission tax credits of up to $5,000 that can also be applied to the purchase. AMP Electric Vehicles has been qualified by the IRS for the Federal Plug-in Electric Drive Motor Vehicle Credit of $7,500, which applies to retail and fleet buyers. AMP is taking. icles.com/reserve">reservations for their all-electric vehicles. AMP currently offers electric versions of the Jeep Gran Cherokee and the Mercedes ML. Brief

Indian Government Adds Electric-Car Purchase Incentives To Boost Sales

Green Car Reports

Offering cash or tax reductions for buying electric cars, or offering perks like parking or carpool lane access, can go along away toward getting hesitant buyers over the hump. Government incentives have been vital to electric-car adoption in the many countries that have enacted them so far. Now, India is trying to do just that with a national. India incentives Mahindra plug-in cars reva transportation policy

2015 125

60% of $18B in US clean energy tax credits 2006-2012 went to top 20% by income; 90% in the plug-in program

Green Car Congress

A working paper by a team at the Energy Institute at Haas, University of California, Berkeley, has found that 60% of the $18 billion in US federal income clean energy tax credits issued between 2006 and 2012—e.g., The most extreme case, Severin Borenstein and Lucas Davis found through their examination of tax return data from the IRS, is the program aimed at electric vehicles—the top income quintile received about 90% of all these credits.

2015 286

Georgia Electric-Car Sales Plummet After Incentive Replaced By Tax

Green Car Reports

The Peach State previously had one of the most generous incentive programs for new electric-car purchases, offering up to $5,000 in income-tax credits to electric-car buyers. Electric-car buyers in Georgia have seen their prospects change dramatically over the past few months. But earlier this year, legislators killed that incentive program. DON'T. sales incentives Georgia plug-in cars state laws transportation policy