Electric Vehicle charging station tax credits a victim of US Govt budget battles
The electric car charging infrastructure is a key to the chicken-and-egg quandary for electric vehicle adoption. The increasing number of electric cars on the road, means potential businesses and jobs will be created to install and maintain the charging infrastructure. That is, if the pattern of electric car adoption proceeds without hitch. The last few weeks has seen another of the divisive ugly budget showdowns in Washington DC. This time a package of tax credits, including EV Charging Infrastructure credits, got caught up in the battle and now those credits are expiring on Saturday, December 31, 2011, threatening the nascent EV infrastructure businesses.
Every year sees a cluster of tax credits expire, and Congress routinely attaches tax credit extension provisions to bills they're working on to extend all or some of the expiring tax credits. This year is no different in that 65 individual tax credits were due to expire in 2011, the majority expiring on Saturday. One of those was the temporary payroll tax cut that got so much heat earlier this month. While that one got a two month extension, other provisions did not, and will expire in a couple days.
The specific tax credits affecting electric vehicles are