Obama Seeking Rebates Instead Of Tax Credits For Electric Car BuyersObama Seeking Rebates Instead Of Tax Credits For Electric Car Buyers

2011 Nissan Leaf at quick-charging stationCurrently, buyers of electric cars receive a $7,500 tax credit that they can only realize once they file their taxes, often up to a year after they actually make their purchase. Without a doubt, this has limited the effectiveness of the incentive so it’s not surprising to hear there are many calling for the incentive to be offered at the time of purchase as a direct rebate instead of a tax credit.
Some of those backing the change include the Obama administration, which is seeking reforms to allow the incentive to be claimable at the dealership level.
The information was revealed by David Sandalow, the Department of Energy’s assistant secretary for policy and international affairs, who spoke recently with Bloomberg. He went on to reveal that the new reforms will be included in the president’s budget next week.
The move is part of Obama’s greater plan to get one million electric cars on American roads by 2015, a pledge the President made in last week’s State of the Union address.
Interestingly, the announcement comes just a day after U.S. Sen. Debbie Stabenow, D-Mich., reintroduced a bill, the “Charging America Forward Act,” that would provide consumers with a $7,500 rebate within weeks of their purchase of a qualifying vehicle.  
[Bloomberg BusinessWeek]

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