According to the recently concluded conference on the Stimulus Bill, everything pretty much stays the same. There are tax credits added for plug-ins that won’t be out until the next two years or so, but no tax credits are mentioned for the purchase of hybrid vehicles available today.
Otherwise known as the American Recovery and Reinvestment Act of 2009, this stimulus bill is worth $787 billion all in all. Presently, it gives up to $2500 tax credit for buyers of low-speed new electric vehicles. However, this has been criticized as a “pork barrel” for golf carts.
On the plus side, however, it allows new car buyers this year to deduct the local and state taxes paid on their vehicle purchases from their annual federal taxes. While $1.7 billion is allocated to fund this tax deduction, this move received a lukewarm reaction from consumers, probably because they won’t be seeing the figures realized until the end of 2009.