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New Tax Credit for Plug-In Hybrids Proposed

Texas Congressman Lloyd Doggett is proposing a new tax credit of $3,000 to $6,150 for people who buy a new plug-in hybrid vehicle. Of course, there are no plug-in hybrids on sale right now, but earlier this week we learned GM is shooting to start production of a plug-in of its own, the Volt, by 2010.

Doggett is part of the Ways and Means Committee, so he actually does have an impact on what gets added to the tax code. Tax credits on today’s garden-variety hybrids have a short shelf-life, expiring after a certain number are sold. Considering the first plug-in hybrids will probably cost much more than current hybrids, a tax credit might help draw in early adaptors. We’re wondering, though, why the bill is being done now when there are few plug-ins on the road. And is the all-electric plug-in Tesla sports car eligible?

[Doggett Files Bill Offering Tax Credits for Hybrid Purchases, Austin American Statesman via GMInsideNews]

Related:
Save the Date: Chevy Volt Plug-in Hybrid Coming in 2010