January 12, 2006
Blagojevich Offers $500 To Clean Car Buyers
Gov. Blagojevich today announced a proposal to offer a $500 sales tax credit, effective July 1st, to Illinoisans who buy hybrid and other fuel-efficient cars. The proposal requires approval by the General Assembly.
The Governor is having quite a good environmental week. A week ago, he proposed strong rules to cut mercury pollution from coal plants. Earler this week, he issued an executive order aimed at stepping up research and planning efforts to better manage drinking water supplies across the state.
Today's proposal, if enacted, would save more drivers more money at the pump, and cut air pollution levels as cars that go farther on a gallon of gas also put less out the tailpipe. I don't know about you, but a $500 discount on a new car could be enough to make me choose a hybrid if I weren't otherwise inclined to do so.
A similar federal tax credit, one of the very few notable environmental policy improvements of the Bush Administration, expires at the end of this year, so the proposal comes at a good time.
The proposal is structured to offer the $500 incentive to any vehicle that gets 35 mpg CITY, or 25 mpg CITY that can run on an alternative fuel, such as 85% ethanol or biodiesel.
Good going, Guv. The policy makes sense, and I would think it stands a decent chance of winning legislative approval, given the broad demand for fuel-efficient cars and high gas prices.