Electric-Vehicle Tax Credits Get a Bipartisan Boost in Senate

 

Often crony capitalism sprouts out of well intended policies. Unfortunately, however, these policies can quickly morph into being about crony cashflow primarily.

(From Bloomberg)

The current $7,500 per-vehicle incentive for consumers, credited with helping establish the nascent market for electric cars, phases down once a manufacturer sells 200,000 of the vehicles.

The legislation by Michigan Democrat Debbie Stabenow would grant automakers a $7,000 tax credit for an additional 400,000 vehicles after they reach the 200,000 vehicle cap, according to statement from Stabenow’s office.

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