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	<title>tax credit &#8211; EFR Technology Group</title>
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		<title>Maryland is already out of EV tax credits for 2019</title>
		<link>https://www.efrtechgroup.com/tech/maryland-is-already-out-of-ev-tax-credits-for-2019/</link>
		
		<dc:creator><![CDATA[Randall]]></dc:creator>
		<pubDate>Mon, 08 Jul 2019 22:13:00 +0000</pubDate>
				<category><![CDATA[creditsuisse]]></category>
		<category><![CDATA[electric cars]]></category>
		<category><![CDATA[electric vehicle]]></category>
		<category><![CDATA[Electric Vehicles]]></category>
		<category><![CDATA[emissions]]></category>
		<category><![CDATA[ev]]></category>
		<category><![CDATA[funding]]></category>
		<category><![CDATA[green]]></category>
		<category><![CDATA[incentives]]></category>
		<category><![CDATA[maryland]]></category>
		<category><![CDATA[plug-in hybrid]]></category>
		<category><![CDATA[Politics]]></category>
		<category><![CDATA[tax credit]]></category>
		<category><![CDATA[Tech]]></category>
		<category><![CDATA[tomorrow]]></category>
		<category><![CDATA[Transportation]]></category>
		<guid isPermaLink="false">https://www.efrtechgroup.com/maryland-is-already-out-of-ev-tax-credits-for-2019/</guid>

					<description><![CDATA[[ad_1] The fact that the state burned through the funds so quickly speaks to the growing popularity of EVs and plug-in hybrids. The number of EVs registered in Maryland reportedly doubled from 2017 to 2018, and it reached more than 18,000 in February. Maryland has a goal to register 300,000 EVs by 2025, and it [&#8230;]]]></description>
										<content:encoded><![CDATA[<p> [ad_1]<br />
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<p>The fact that the state burned through the funds so quickly speaks to the growing popularity of EVs and plug-in hybrids. The number of EVs registered in Maryland reportedly doubled from 2017 to 2018, and it reached more than 18,000 in February. Maryland has a goal to register 300,000 EVs by 2025, and it doubled its funding for the 2019 EV tax credits. But a backlog of applicants from the previous fiscal year meant that all of the money for 2019 was spoken for before July 1st. Unless the state can come up with more funding, it&#8217;s likely a similar scenario will play out next year, too.</p>
<p>EV owners are still eligible for federal tax credits, but those aren&#8217;t a guarantee, either. The Trump administration has toyed with <a href="https://www.engadget.com/2019/03/11/trump-budget-2020-electric-vehicle-tax-credit/">slashing the incentives</a> (up to $7,500 on the purchase of a new EV) from the 2020 budget. As EV sales <a href="https://www.engadget.com/2019/03/05/nissan-leaf-first-ev-to-top-400000-sales/">continue to increase</a> and funds for tax credits dry up, states might have to get creative and look toward <a href="https://www.engadget.com/2018/11/24/new-york-ev-incentives/">incentives like fast charging</a> and low power rates.</p>
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<p>[ad_2]<br />
<br /><a href="https://www.engadget.com/2019/07/08/maryland-electric-vehicle-tax-credits-2019/">Source link </a></p>
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		<item>
		<title>Trump&#8217;s 2020 budget proposal cuts the EV tax credit</title>
		<link>https://www.efrtechgroup.com/trump/trumps-2020-budget-proposal-cuts-the-ev-tax-credit/</link>
					<comments>https://www.efrtechgroup.com/trump/trumps-2020-budget-proposal-cuts-the-ev-tax-credit/#respond</comments>
		
		<dc:creator><![CDATA[Randall]]></dc:creator>
		<pubDate>Tue, 12 Mar 2019 00:31:00 +0000</pubDate>
				<category><![CDATA[budget]]></category>
		<category><![CDATA[congress]]></category>
		<category><![CDATA[electric vehicle]]></category>
		<category><![CDATA[electric vehicle tax credit]]></category>
		<category><![CDATA[ev]]></category>
		<category><![CDATA[gear]]></category>
		<category><![CDATA[Politics]]></category>
		<category><![CDATA[tax credit]]></category>
		<category><![CDATA[Tech]]></category>
		<category><![CDATA[Transportation]]></category>
		<category><![CDATA[Trump]]></category>
		<guid isPermaLink="false">https://www.efrtechgroup.com/trumps-2020-budget-proposal-cuts-the-ev-tax-credit/</guid>

					<description><![CDATA[[ad_1] Before you rush out to buy a plug-in car to score the incentive before it disappears, know that it&#8217;s unlikely the proposed budget will pass through Congress. With the House of Representatives currently ruled by a Democratic majority, any Trump proposal is likely to face stiff opposition. Automakers have been lobbying Congress to extend [&#8230;]]]></description>
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<p>Before you rush out to buy a plug-in car to score the incentive before it disappears, know that it&#8217;s unlikely the proposed budget will pass through Congress. With the House of Representatives currently ruled by a Democratic majority, any Trump proposal is likely to face stiff opposition. Automakers have been <a href="https://www.engadget.com/2018/11/14/tesla-gm-nissan-ev-tax-credits-coalition/">lobbying Congress</a> to <a href="https://www.engadget.com/2018/10/18/senate-considering-extending-ev-tax-credits/">extend the credit</a>, which currently ends after a company hits 200,000 vehicles sold. Democrats are expected to make an effort to keep the credit alive, though they&#8217;ll face challenges in doing so. Senator John Barrasso (R-WY), the chair of the Senate Environment and Public Works Committee, has proposed legislation to <a href="https://www.engadget.com/2017/11/02/us-government-may-take-away-ev-tax-credit/">end the tax credit</a>.</p>
<p>While the tax credit is likely to cost the government money, that&#8217;s in part because it has been successful in incentivizing the purchase of electric vehicles. A congressional report claims more than 57,000 taxpayers claimed an EV credit in 2016 and it&#8217;s expected that $7.5 billion in subsidies will be given out to EV buyers between 2018 and 2022. Two car makers, <a href="https://www.engadget.com/2018/10/12/tesla-tax-incentive-timeline/">Tesla</a> and <a href="https://www.engadget.com/2019/01/03/gm-ev-tax-credit-phase-out-report/">General Motors</a>, have already hit the 200,000 vehicle cap but are still eligible for smaller credits.</p>
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<p>[ad_2]<br />
<br /><a href="https://www.engadget.com/2019/03/11/trump-budget-2020-electric-vehicle-tax-credit/">Source link </a></p>
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