The U.S. Senate approves an amendment to the fiscal-year 2009 budget plan calling for tax incentives to help increase the nation’s use of renewable energy and trim its dependence on oil. Perhaps the most significant piece of the legislation is a new consumer tax credit of up to $5,000 for plug-in electric hybrid vehicles (PHEVs), including a tax credit for hybrid conversion kits that modify current technology as advances in battery technology occur. The credit includes $3,000 for the ...
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