$700 Billion Bailout Plan and Its Green Benefits

October 15, 2008 / 1 Comment

Everyone is aware of the fact that the government is still debating about the $700 billion that will go in to bailing out financial institutions from their present credit crisis. But what one does not know is about the special benefits that are a part of the bill, and we’re talking about “green benefits”.

amsterdam girl bike commuter $700 Billion Bailout Plan and Its Green Benefits

Amsterdam Bike Commuter

  1. The Bicycle Commuters Act will provide a $20 tax credit per month to those companies that employ bicycle commuters. This step will be taken so as to support these companies to add infrastructures such as lockers and bike racks. It might also bring forward other big companies to encourage bike commuting.
  2. The transportation and domestic fuel security provision will give the first 250,000 electric cars bought in the US a tax credit of $2,500 plus an additional $417 per kilowatt-hour for batteries greater than four kilowatt-hours. It’s a limited-time offer because after those 250k units, it will be reduced to a smaller amount.
  3. Production and investment tax credits for renewable energy would be extended so that installation of solar and wind power in homes and offices became easy.

Now, do you see the plan in a different light? – via USNews

Image courtesy of Amsterdamize