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Obama's 2012 Budget Proposes Boost for Electrics, Cuts for Hydrogen
In brief: President Obama has submitted his fiscal year 2012 (FY2012) budget proposal to Congress and it includes some big boosts for electric vehicles and cutbacks for hydrogen fuel.
Obama's stated goal is to have 1 million plug-in vehicles on the road by 2015 in America. His budget proposal would likely make that more achievable, through plug-in incentive and funding programs.
The budget proposes to make the current $7,500 tax write off for purchasing a plug-in into an instant rebate that would be applied as soon as the vehicle is purchased, thereby lowering the sticker price of the plug-in.
The budget also pushes for more research and development grants, putting $588 million into the U.S. Department of Energy (DOE). That would increase current funding by 88%.
A further $200 million program would go towards grants to allow communities to invest in electric vehicle infrastructure such as charging stations and improved utilities.
The budget would cut more than 40% from hydrogen and hydrogen fuel cell technology funding to the DOE - knocking $70 million from their budget for the Office of Energy Efficiency and Renewable Energy.
And so ...
Obama's plans are relatively short-sighted, with that 2015 goal seeming to dominate his alternative fuel wishes. His overall budget is a 12% increase over 2010 spending levels.
Photo credits: White House
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