26 Mar '14, 2pm

US ponders boost to EV tax credits #greenenergy

The US government is considering cutting taxes on liquefied natural gas (LNG) and increase tax breaks for electric cars to increase the uptake of alternative fuel vehicles. In a new US Treasury analysis of tax proposals, it is proposed that suggests that the current allowance of up to $7,500 (about £4,532) in tax breaks could be increased to $10,000 (worth around £6,042) for alternative fuel vehicles such as electric cars. Federal tax on LNG could be reduced to 14.1 cents per gallon from the current 24.3 per cents to make it ‘at parity with diesel fuel on an energy-content adjusted basis’, according to the Detroit News . It is estimated this will cost the country’s treasury $20 million up to 2024. Natural gas is fast becoming a popular alternative in the United States, where firms including GM, Ford and Honda offer CNG-ready vehicles and a growing network of refuelling sta...

Full article: http://www.thegreencarwebsite.co.uk/blog/index.php/2014/0...

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