U.S. President Barack Obama on March 7 unveiled what he described as an “expanded” tax-credit proposal for alternative fuel vehicles including electric vehicles (EVs) and compressed natural gas (CNG) or liquefied natural gas (LNG) vehicles. The proposed tax credits would “help consumers and businesses purchase new, advanced cars and trucks, including increasing and expanding the current tax credit for advanced vehicles, from the $7,500 credit that currently exists up to $10,000, while allowing the credit to be applied to additional types of technologies not currently covered,” according to a press statement from the White House.
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