$7.5 Billion Price Tag on U.S. Electric Car Policy

Nissan Leaf Charging


Although the article states that promoting electric vehicles will “have ‘little to no impact’ on […] gasoline consumption,’ over the next few years, that doesn’t change the notion that it will have an impact over the years that follow. I think I am okay with our government spending 7.5 billion dollars on trying to promote environmental awareness and green energy, how about you?


U.S. federal policies to promote electric vehicles will cost $7.5 billion through 2019 and have "little to no impact" on overall national gasoline consumption over the next several years, the Congressional Budget Office said in a report issued on Thursday.

Consumer tax credits for buying electric vehicles, which can run as high as $7,500 per vehicle, will account for about 25 percent of the $7.5 billion cost, the CBO said. Read More


(Photo from REUTERS)


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