The $838 billion stimulus package that is slowly working through congress includes about $2 billion to help stimulate the sales of hybrid and new cars.
According to the Freep.com:
The current stimulus bill includes:
– grants for hybrid and electric car battery development and manufacturing
– expanded tax credits for buyers and manufacturers of plug-in hybrid vehicles
– a tax break for new-car buyers
– money for the federal government to buy plug-in hybrids and flex-fuel vehicles
At a recent town hall meeting in Indiana, President Obama said:
"The auto industry, RV industry, transportation industry is so
important to us here in the Midwest,”
“If we don’t use this
crisis as an opportunity to start retooling, then we will never catch
up and be able to compete effectively against Japanese automakers,
Korean automakers," he added.
“We will find ourselves continuing to slide. This should be an opportunity for us to retool.”
The Senate voted to pass the bill but its version must still be reconciled with a larger version that passed the House.
For more info: click HERE for the details of the current stimulus bill for the hybrid and electric automotive industry
