US president Obama’s new financial plan that revealed a few months ago includes plans to boost the automobile industry across the United States. It’s a major boon for the Auto Dealers, Transporters and manufacturers of alternatively-fueled automobiles.
The plan is a tax credit for manufacturers of vehicles that are commonly used, run on alternative fuels and that exceed the miles-per-gallon equivalent by at least 25%. It would go up to $10,000 to the manufacturer of the automobile instead of going to the automobile purchaser.
On the whole the budget provides $143-billion to the Energy Department to fund research and development which will bolster the manufacturing and advertising of vehicles even better than the previous ones.
A budget of $575-million will be provided for growth and demonstration of the next production of superior vehicles, which is an increase of 75% over the 2012 budget.
An additional tax credit would go to customers of medium and heavy duty commercial vehicles that run on alternative fuels weighing more than 14,000 pounds.