[Congressional Record Volume 157, Number 13 (Monday, January 31, 2011)]
[Senate]
[Pages S361-S362]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. LEVIN:
  S. 232. A bill to amend the Internal Revenue Code of 1986 to increase 
the manufacturer limitation on the number of new qualified plug-in 
electric drive motor vehicles eligible for credit; to the Committee on 
Finance.
  Mr. LEVIN. Mr. President, today I am introducing legislation that is 
an important step for the competitiveness of U.S. manufacturing by 
continuing the nurturing of the market for the next generation of 
electric vehicles. This bill will continue the availability of the 
$7,500 consumer tax credit for plug-in hybrid vehicles. Current law 
limits the availability of this plug-in hybrid tax credit to the first 
200,000 vehicles per manufacturer, which is too small to support the 
revolutionary technological change that we are hopefully going to 
witness. Failure to provide this support risks falling short of 
President Obama's important goal of putting 1 million electric vehicles 
on the road by 2015.
  The U.S. auto industry is poised for a technological explosion that 
promises to fundamentally change transportation here and around the 
world. Already, the success of GM's Volt has demonstrated that electric 
vehicles are not just an engineer's dream or a science fiction story. 
They are real, and there is plenty more innovation ready to be 
unleashed.
  But like almost every transformational technology, from the great 
railroads to the Internet, this technological revolution needs support 
if it is to spread. President Obama last week laid out a vision of how 
this kind of technology can help ensure our economic future. With the 
proper support, we can transform transportation and create new jobs for 
American workers. But if we fail to support this revolution, we risk 
missing an opportunity that we may never get back. If we do not get it 
right, there is no doubt that other countries will--and their workers--
in China, India, South Korea and elsewhere--will then build these 
vehicles instead of American workers.
  So I am pleased today to be introducing this bill that is identical 
to one that my brother Sandy Levin introduced last week in the House of 
Representatives. This legislation will increase the cap on the number 
of vehicles eligible for the plug-in hybrid tax credit in current law 
and provide much greater certainty to our manufacturers. It says to our 
manufacturers that

[[Page S362]]

we will support technology of great potential and it says to consumers 
we will continue to help make these vehicles more available and 
affordable. This change in law will make a difference immediately, and 
it is an important signal of future support for the transformation of 
our transportation sector.
  Mr. President, I ask unanimous consent that the text of the bill be 
printed in the Record.
  There being no objection, the text of the bill was ordered to be 
printed in the Record, as follows:

                                 S. 232

       Be it enacted by the Senate and House of Representatives of 
     the United States of America in Congress assembled,

     SECTION 1. INCREASE IN MANUFACTURER LIMITATION ON THE NUMBER 
                   OF QUALIFIED PLUG-IN ELECTRIC DRIVE MOTOR 
                   VEHICLES ELIGIBLE FOR CREDIT.

       Paragraph (2) of section 30D(e) of the Internal Revenue 
     Code of 1986 is amended by striking ``200,000'' and inserting 
     ``500,000''.
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