The California Air Resources Board will discuss Thursday and Friday raising the state's electric vehicle rebate to offset the expiration of federal tax credits for the two largest electric-carmakers, Tesla and GM.
The state offers a $2,500 subsidy for electric-car purchases. CARB is considering raising that amount to $4,500, according to Bloomberg.
Twice, the program has run out of money, and subsidies have been reduced or delayed.
Now, revenue from the state's Low Carbon Fuel Standard can provide funding for the additional electric car rebates. Funding for the current program comes from the state's carbon cap-and-trade program. .
A bill introduced in the U.S. Senate last week aims to extend the federal credit for 10 years. A parallel bill is pending in the House, but neither has made it out of committee. . . .
