General Motors to Keep their Tax Credit for Electric Vehicles?

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General Motors is fighting tooth and nail to maintain it’s tax advantage for electric vehicles. Yet now that they are no longer making the Volt, can they really justify it?

The company already is on the verge of being phased out of the tax credit program unless Congress changes a law that caps the break at 200,000 vehicles per manufacturer. Without the incentive, GM may be forced to cut the price of its electric cars to keep prospective customers from taking their business elsewhere, according to automotive industry experts.

GM faces opposition from President Donald Trump and other Republicans who consider the credit a waste of taxpayer money and want it eliminated. Trump, who has pledged a manufacturing rebirth in the Midwest, reacted angrily to GM’s “transformation ” announcement late last month, declaring that his administration was “looking at cutting all GM subsidies, including for electric cars.”

1 COMMENT

  1. the tax credit should only be awarded to car companies that are actually making all electric car. Give it to Tesla, agreed. Not to GM.

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