The one thing that you can really count on is that when George Bush decides to "cross the aisle" and work with the Democrats, the result is almost always a disaster. How many school teachers who hate Bush for "No Child Left Behind" realize that this disaster was originally Teddy Kennedy's bright idea? Now they gave us this bogus bailout to save the market...and the Dow is collapsing today.
The only positive aspect of this pork barrel disaster is there is a huge tax credit for plugin hybrids:
One particular $1 billion chunk of that extra money has been earmarked to provide cash back to American drivers who opt to buy plug-in vehicles. Tax credits starting at $4,168 (there's a nice round number for you) will go to people to buy a vehicle with a battery pack that has at least 4 kWh of capacity. From there the credits ramp up to $7,500 for vehicles with a 16 kWh pack. For those that haven't been paying attention, that just happens to be the size of the pack in the Chevy Volt. Medium and heavy duty trucks with plug-in capability are also eligible for credits of $10-15,000.That brings the Chevy Volt down into the price range that it would sell well. Of course, this still gives us the problem that tax subsidies can hide a host of economically irrational actions.
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