Hybrid Vehicle Tax Credits

On November 4, 2011, Rep. Reichert (R-WA) introduced legislation (H.R. 3374) to extend and modify the credit for new qualified hybrid motor vehicles.  Effectively, the bill would double the existing tax credit as follows: 

$15,000, for vehicles < 14k lbs GVWR

$30,000, for vehicle 14-26k lbs GVWR

$60,000, for vehicles 26-33k lbs GVWR

$100,000, for vehicles > 33k lbs. GVWR

The bill was referred to the House Committee on Ways and Means.