With everything going on in America today, it can be hard to keep track of all the changes to public policy that’ll affect you personally. One change that may have flown under your radar — the federal rebate for electric vehicles (EV) is going away in 2018. Don't worry, you're not the only one that's outraged.
If you want to help prevent this rebate from going away, join forces with Plug In America and write your Senator to let them know that you want the federal rebate to stay.
In order to help stimulate the electric car market in America, the federal government offered a rebate of up to $7,500 off the purchase or lease of any new electric car. Considering that the average electric car costs around $35,000, a federal rebate of that size could take a pretty big bite off the sticker price. Enough so that lower income families could finally afford the initial cost of an electric vehicle and then reap the benefits of the reduced fuelling costs while simultaneously reducing their carbon footprint — wins all around.
Why it’s going away
The program was intended to boost the sales of EV cars from various auto manufacturers, up until they each had roughly 200,000 EV cars on the streets in America. Once that number was reached, the program would be reduced by 50%, then six months later another 50%, until eventually the program would be phased out entirely.
But instead of waiting around for that to happen, Republicans in charge of drafting tax legislation have decided to simply not include the rebate in the new House tax bill, indicating that the program will no longer be available in 2018.
Long story short: Trump and the GOP killed a program designed to facilitate the transition to cheaper travel and cleaner energy. (Shocking!)
What you can still do
Fear not, potential EV driver! While the program will be coming to a close by the end of 2017, there is still time to squeeze through the doorway before it slams shut. If you act fast, you can still purchase or lease a new electric car and claim some of that sweet federal rebate money.
And even if you don’t make the cut-off, all hope is not lost. You can still apply for one of the numerous state-funded incentives still available — provided you live in a state with one.
To learn more about what kinds of rebates and incentives are available to you, check out our article on the 21 biggest EV tax incentives in America.