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CBO: U.S. to spend $7.5B to promote electric cars by 2019

Federal policies to promote electric vehicles will cost $7.5 billion through 2019 and have “little to no impact” on national gasoline consumption over the next several years, the Congressional Budget Office said in a report issued on Thursday.

Consumer tax credits for buying electric vehicles, which can run as high as $7,500 per vehicle, will account for about 25 percent of the $7.5 billion, the CBO said.
Source chicagotribune.com

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