State bill would end tax credits for electric cars
CHARLESTON, W.Va. -- The West Virginia Senate Finance Committee has endorsed Gov. Earl Ray Tomblin's plan to eliminate state tax credits for electric cars and other alternative fuel vehicles.
Tomblin's bill was briefly overhauled by the Senate Transportation Committee earlier this week, before being restored by the Finance Committee on Tuesday. The previous version would have preserved most of the tax credits
The bill would keep tax credits for cars that run on natural gas, propane or butane. It would eliminate credits for electric, plug-in hybrid, solar and hydrogen-fueled vehicles.
For passenger cars, the tax credits are worth 35 percent of the purchase price, up to $7,500. They would be eliminated starting April 15.
Tomblin's office estimates that eliminating the tax credits will save the state $6 million in the coming fiscal year.