With many concerned that the public’s modest adoption of electric vehicles could backslide without a federal tax incentive, U.S. lawmakers introduced legislation on Wednesday to expand the EV tax credit by 400,000 vehicles per manufacturer.

This would help companies that have already exhausted their quota, like Tesla and General Motors, but even automakers that are nowhere near their current allowance would have something to gain — a wider window in which to sell alternative-energy vehicles with governmental help.

Called the “Driving America Forward Act,” the legislation would grant automakers a $7,000 tax credit for an additional 400,000 vehicles and shorten the depletion/phase-out schedule to nine months. However, the existing deal of 200,000 vehicles per automaker eligible for $7,500 tax credit would also remain intact, resulting in a pretty big allowance for government incentives.  (Read More…)