Posted: Thursday, March 13th 2014 at 10:58am
Electric car credit under review in Georgia
By The Associated Press
ATLANTA (AP) -- Georgia may be rolling back tax credits for low-emission and electric vehicles.
Republican state Rep. Chuck Martin says Georgia needs to re-examine a policy that gives consumers a maximum $2,500 tax credit when they buy or lease a low-emission vehicle. They can get up to a $5,000 credit for no-emission vehicles. Tax officials estimate that the tax subsidies cost roughly $1.1 million in 2012.
Martin says the program has no spending caps and could expose Georgia taxpayers to big costs as the cars become more popular. He says tax credits should be available for a broader range of fuel-efficient vehicles.
Democrats say the tax credits should stay because they help reduce pollution, oil consumption and stimulate business.
The plan is before Georgia's state Senate.
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