General Motors and Tesla have been pushing for more than a year for extension of the credit, which phases out once an automaker hits 200,000 vehicles sold, and many lawmakers had been pushing to include the extension. The tax credit is aimed at defraying the cost of electric vehicles that are more expensive than similarly sized internal combustion engine vehicles.
Both GM and Tesla have already hit 200,000 EV sales. Sen. Debbie Stabenow, a Michigan Democrat who authored a proposal to extend the credit, said Monday the EV proposal faced significant opposition from the White House, according to her office.
Tesla's credit fell to $1,875 in July and will be zero after Dec. 31. GM's credit fell to $1,875 on Oct. 1 will be zero after March 31.
Stabenow proposed in April granting each automaker a $7,000 tax credit for an additional 400,000 vehicles on top of the existing 200,000 vehicles eligible for $7,500 tax credits. A separate bill in the U.S. House proposed a smaller credit for used EVs.
Republican and Democratic lawmakers hope to pass the $1.4 trillion spending bill before current government funding runs out on Saturday, to avoid a partial government shutdown and head off the kind of messy budget battle that resulted in a record 35-day interruption of government services late last year and early this year.
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In another month, the wind PTC will finally expire after twenty-seven years. Taxpayers will still be on the hook for billions more in PTCs through the next decade but the burden should not increase. In that time, the wind industry has grown significantly reaching over 100,000 MW and now mainstreamed into the US electricity market. Big Wind is no longer a nascent industry, but one that must stand on its own, whether it's ready or not.
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