At the end of 2011, three of our key federal electric vehicle tax credits will expire: incentives for consumers and businesses installing charging stations, affordable two and three-wheeled EVs, and those for plug-in conversions will all be left behind. But what keeps me awake at night are ongoing challenges to the overall plug-in tax credit. I am sure you have heard all of the major media talking about the Payroll Tax Extension; but what you may not have known is that EVs are part of the political football, too. Here’s what is going on..
We fought hard (and won) to get all of these expiring electric vehicle tax credits included in the “energy tax credit extenders package” covering items like the production tax credit for electricity (wind/solar) and the 30% investment tax credit for manufacturing equipment. And with support on both sides of the aisle, we made it onto the list under consideration by the Senate Finance committee.
Now the House has finally joined the Senate in passing a two-month extension on the Payroll Tax Holiday, Unemployment Insurance, and Medicare reimbursement, but at the final moment all other extenders (including ours!) were pushed aside. These EV tax credits are now in play for the full fix, which could come at the end of the two-month extension.
We need your support to make sure that EVs are fully included as part of the package and we don’t lose these key incentives forever. Between now and the end of February watch for action alerts from us to support the continuation of EV tax credits. If you aren’t receiving our alerts and newsletters, sign up here to receive them. To support the effort further, please Donate to Plug In America. Your donation will keep us on the hill fighting for EVs until the Senate and House vote at the end of the two-month extension and we win.
