Electric Drive Transportation Association Responds to CBO Report on Federal Tax Credits for Electric Vehicle Purchases

WASHINGTON, Sept. 20, 2012 /PRNewswire-USNewswire/ -- Brian Wynne, president of the Electric Drive Transportation Association (EDTA), issued the following statement in response to today's release of the Congressional Budget Office's (CBO) September 2012 report, "Effects of Federal Tax Credits for the Purchase of Electric Vehicles."

"The Congressional Budget Office (CBO) report 'Effects of Federal Tax Credits for the Purchase of Electric Vehicles' can be another useful contribution to the conversation on the benefit of investment in electric drive. It is important to highlight, however, some of the report's acknowledged limitations. In evaluating the effectiveness of the credit, the report provides the caveat that 'As yet, no reliable estimates exist of the share of electric vehicle sales that can be attributed to the tax credits.' 

"EDTA agrees that economies of scale and ongoing technological advances will reduce vehicle costs and consumer tax incentives can help achieve them. While we do not agree with all of the assumptions made and relied on in the report, CBO's illustrations do show that tax incentives can help move electric drive into the mainstream and reduce gasoline use and emissions, while growing the industry. A strong public-private investment in the emerging electric drive industry can provide important energy security, economic and environmental benefits to the U.S."

About EDTA

The Electric Drive Transportation Association (EDTA) is the preeminent trade association promoting battery, hybrid, plug-in hybrid and fuel cell electric drive technologies and infrastructure. EDTA conducts public policy advocacy, education, industry networking, and international conferences. EDTA's membership includes vehicle and equipment manufacturers, energy companies, technology developers, component suppliers, government agencies and others. For more information about EDTA and its members, visit ElectricDrive.org. For information about owning and operating electric vehicles, please visit GoElectricDrive.com.

SOURCE Electric Drive Transportation Association

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